Since mimickers are riskier firms, they should announce offers closer to an information-release event than do less risky firms, thus taking advantage of the lower level of information asymmetry.
Since the results thus far are consistent with our hypothesis that some firms are mimickers, we now examine whether the market's reaction to a convertible bond offer announcement varies with whether or not the firm mimics higher-quality firms at offer announcement.
Once the market assimilates the information on the announcement date, the wealth change on the offer date is statistically similar for both mimickers and non-mimickers.
If low-quality mimickers issue convertible bonds with contract terms similar to those of non-mimickers, then the market's reaction to the announcement should be more positive than that for those firms that truthfully reveal firm quality at announcement.
Moreover, the convertible bonds issued by the mimickers have contract terms that are indistinguishable from those offered by non-mimickers.
5) However, the presence of a basal cell layer by nuclear staining with p63 and the absence of cytoplasmic staining with P504S would be helpful in differentiating this benign mimicker
as well as seminal vesicle/ejaculatory duct epithelium from invasion by prostatic carcinoma.
60,61) We use that framework to discuss their mimickers (Table 2).
Mimickers of Flat, Noninvasive Urothelial Neoplasia
Mimickers of Exophytic Papillary Urothelial Neoplasms
Histologic Mimickers of Prostatic Adenocarcinoma Small gland pattern Lesions of prostatic epithelial origin Atrophy Adenosis (atypical adenomatous hyperplasia) Crowded benign glands Sclerosing adenosis Basal cell hyperplasia Radiation and reactive atypia Verumontanum mucosal gland hyperplasia Lesions of nonprostatic epithelial origin Seminal vesicle and ejaculatory duct epithelium Cowper glands Mesonephric remnants Colonic glands Nephrogenic adenoma Large and cribriform gland patterns (Clear cell) cribriform hyperplasia Cribriform basal cell hyperplasia Medium- to large-sized hyperplastic glands Solid and nonglandular patterns Granulomatous prostatitis Prostatic xanthoma Paraganglia Signet ringlike change Table 2.
Adenosis, or atypical adenomatous hyperplasia, is another common mimicker of prostatic adenocarcinoma on both needle biopsy and transurethral resection specimens.
In addition to being a histologic mimicker of carcinoma, this lesion is also a clinical mimicker because it is frequently associated with abnormal digital rectal examination findings (51) or elevated serum PSA levels (52) or both.