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The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence

Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ’ cooperation experience with independent financial advisors on the reliability of performance commitments,...

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Detalles Bibliográficos
Autores principales: Lin, Dongchuan, Wang, Yeling, Zheng, Qiqi, Li, Hongyi
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10602356/
https://www.ncbi.nlm.nih.gov/pubmed/37883519
http://dx.doi.org/10.1371/journal.pone.0283125
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author Lin, Dongchuan
Wang, Yeling
Zheng, Qiqi
Li, Hongyi
author_facet Lin, Dongchuan
Wang, Yeling
Zheng, Qiqi
Li, Hongyi
author_sort Lin, Dongchuan
collection PubMed
description Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ’ cooperation experience with independent financial advisors on the reliability of performance commitments, and to examine the moderating effect of management overconfidence on the relationship between the two. The results show that the cooperation experience between auditors and independent financial advisors is significantly positively correlated with the reliability of performance commitment, and the closer the cooperation experience is, the easier the performance commitment will be realized, this has played a financial intermediary team effect. Further analysis shows that in the context of management overconfidence, the positive relationship between financial intermediaries ’ cooperation experience and the reliability of performance commitment is stronger. The research results enrich the research on the influencing factors of M & A performance commitment and the economic consequences of financial intermediaries ’ cooperation, and help the transaction subjects to rationally view performance commitment and regulators to improve policies and regulations.
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spelling pubmed-106023562023-10-27 The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence Lin, Dongchuan Wang, Yeling Zheng, Qiqi Li, Hongyi PLoS One Research Article Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ’ cooperation experience with independent financial advisors on the reliability of performance commitments, and to examine the moderating effect of management overconfidence on the relationship between the two. The results show that the cooperation experience between auditors and independent financial advisors is significantly positively correlated with the reliability of performance commitment, and the closer the cooperation experience is, the easier the performance commitment will be realized, this has played a financial intermediary team effect. Further analysis shows that in the context of management overconfidence, the positive relationship between financial intermediaries ’ cooperation experience and the reliability of performance commitment is stronger. The research results enrich the research on the influencing factors of M & A performance commitment and the economic consequences of financial intermediaries ’ cooperation, and help the transaction subjects to rationally view performance commitment and regulators to improve policies and regulations. Public Library of Science 2023-10-26 /pmc/articles/PMC10602356/ /pubmed/37883519 http://dx.doi.org/10.1371/journal.pone.0283125 Text en © 2023 Lin et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Lin, Dongchuan
Wang, Yeling
Zheng, Qiqi
Li, Hongyi
The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title_full The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title_fullStr The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title_full_unstemmed The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title_short The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
title_sort effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—based on the moderating effect of managerial overconfidence
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10602356/
https://www.ncbi.nlm.nih.gov/pubmed/37883519
http://dx.doi.org/10.1371/journal.pone.0283125
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