東華大學圖書館 |

語系: 繁體中文

說明(常見問題)

回圖書館首頁

手機版館藏查詢

登入

回首頁

切換: 標籤 | MARC模式 | ISBD

The Performance Effects of Cross-Ind...

Zhou, Wei.

FindBook

Google Book

Amazon

博客來

The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market./
作者:	Zhou, Wei.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
面頁冊數:	147 p.
附註:	Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.
Contained By:	Dissertation Abstracts International79-09A(E).
標題:	Business administration. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10792277
ISBN:	9780355915884

The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market.
Zhou, Wei.

The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 147 p.

Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.

Thesis (Ph.D.)--Arizona State University, 2018.

This study investigates the performance effects of cross-industry mergers and acquisitions (M&A) using a sample of firms listed in China's Growth Entrepreses Market (GEM). Compared to firms listed in the Shanghai and Shenzhen Stock Exchanges, firms listed in the GEM are much smaller and tend to derive the majority of their revenues from a single industry. I first analyze the motives for firms listed in the GEM to engage in M&As and propose a set of factors that may influence their likelihood of M&A activities. Using data on 55 cross-industry M&As between January 1, 2012 and December 31, 2016, I find that investor generally responded positively in short-term, as indicated by the positive accumulated abonormal returns over the first five trading days following the announcements. Meanwhile, I found no evidence that investors benefited from cross-industry M&As in long-term over three years after the event. Further analysis suggests that the short-term effects of cross-industry M&As by GEM listed firms were influenced by the target firm's market valuation, whether the M&A was paid by cash, the amount of the payment, and the degree of difference between the acquiring firm's and the target firm's industries. These findings have important implications for the investors and senior executives of firms listed in the GEM.

ISBN: 9780355915884Subjects--Topical Terms:

3168311
Business administration.

The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market.
LDR:02327nmm a2200301 4500 001 2161984
005 20181002081327.5
008 190424s2018 ||||||||||||||||| ||eng d
020 $a 9780355915884
035 $a (MiAaPQ)AAI10792277
035 $a (MiAaPQ)asu:17697
035 $a AAI10792277
040 $a MiAaPQ $c MiAaPQ
100 1 $a Zhou, Wei. $3 1064868
245 1 4 $a The Performance Effects of Cross-Industry Mergers and Acquisitions at Firms Listed in China's Growth Enterprises Market.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2018
300 $a 147 p.
500 $a Source: Dissertation Abstracts International, Volume: 79-09(E), Section: A.
500 $a Advisers: Wei Shen; Xiaoyun Yu.
502 $a Thesis (Ph.D.)--Arizona State University, 2018.
520 $a This study investigates the performance effects of cross-industry mergers and acquisitions (M&A) using a sample of firms listed in China's Growth Entrepreses Market (GEM). Compared to firms listed in the Shanghai and Shenzhen Stock Exchanges, firms listed in the GEM are much smaller and tend to derive the majority of their revenues from a single industry. I first analyze the motives for firms listed in the GEM to engage in M&As and propose a set of factors that may influence their likelihood of M&A activities. Using data on 55 cross-industry M&As between January 1, 2012 and December 31, 2016, I find that investor generally responded positively in short-term, as indicated by the positive accumulated abonormal returns over the first five trading days following the announcements. Meanwhile, I found no evidence that investors benefited from cross-industry M&As in long-term over three years after the event. Further analysis suggests that the short-term effects of cross-industry M&As by GEM listed firms were influenced by the target firm's market valuation, whether the M&A was paid by cash, the amount of the payment, and the degree of difference between the acquiring firm's and the target firm's industries. These findings have important implications for the investors and senior executives of firms listed in the GEM.
590 $a School code: 0010.
650 4 $a Business administration. $3 3168311
650 4 $a Asian studies. $3 1571829
690 $a 0310
690 $a 0342
710 2 $a Arizona State University. $b Business Administration. $3 1679662
773 0 $t Dissertation Abstracts International $g 79-09A(E).
790 $a 0010
791 $a Ph.D.
792 $a 2018
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10792277