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Shared auditors, information asymmetry degree, and mergers and acquisitions value creation
The social network is an important factor that affects the value creation of mergers and acquisitions (M&A). The M&A events of China’s Listed Companies in 2011–2018 were used as research samples, and this study used the ordinary least square method to test the value creation effect of shared...
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Formato: | Online Artículo Texto |
Lenguaje: | English |
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Frontiers Media S.A.
2022
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Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9459156/ https://www.ncbi.nlm.nih.gov/pubmed/36092042 http://dx.doi.org/10.3389/fpsyg.2022.921581 |
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author | You, Chunhui |
author_facet | You, Chunhui |
author_sort | You, Chunhui |
collection | PubMed |
description | The social network is an important factor that affects the value creation of mergers and acquisitions (M&A). The M&A events of China’s Listed Companies in 2011–2018 were used as research samples, and this study used the ordinary least square method to test the value creation effect of shared auditors. First, it analyzed the impact of shared auditors on the current, short-term, and long-term M&A value creation. Second, it analyzed the moderating effect of information asymmetry degree. The research results show that shared auditors can increase the enterprise value of both sides of M&A. In addition, related M&A and industry attributes can moderate the relationship between shared auditors and M&A value creation. When the M&A are unrelated and in different industries, shared auditors play a more significant role in the value creation of M&A that have more asymmetric information. |
format | Online Article Text |
id | pubmed-9459156 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Frontiers Media S.A. |
record_format | MEDLINE/PubMed |
spelling | pubmed-94591562022-09-10 Shared auditors, information asymmetry degree, and mergers and acquisitions value creation You, Chunhui Front Psychol Psychology The social network is an important factor that affects the value creation of mergers and acquisitions (M&A). The M&A events of China’s Listed Companies in 2011–2018 were used as research samples, and this study used the ordinary least square method to test the value creation effect of shared auditors. First, it analyzed the impact of shared auditors on the current, short-term, and long-term M&A value creation. Second, it analyzed the moderating effect of information asymmetry degree. The research results show that shared auditors can increase the enterprise value of both sides of M&A. In addition, related M&A and industry attributes can moderate the relationship between shared auditors and M&A value creation. When the M&A are unrelated and in different industries, shared auditors play a more significant role in the value creation of M&A that have more asymmetric information. Frontiers Media S.A. 2022-08-26 /pmc/articles/PMC9459156/ /pubmed/36092042 http://dx.doi.org/10.3389/fpsyg.2022.921581 Text en Copyright © 2022 You. https://creativecommons.org/licenses/by/4.0/This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms. |
spellingShingle | Psychology You, Chunhui Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title | Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title_full | Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title_fullStr | Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title_full_unstemmed | Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title_short | Shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
title_sort | shared auditors, information asymmetry degree, and mergers and acquisitions value creation |
topic | Psychology |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9459156/ https://www.ncbi.nlm.nih.gov/pubmed/36092042 http://dx.doi.org/10.3389/fpsyg.2022.921581 |
work_keys_str_mv | AT youchunhui sharedauditorsinformationasymmetrydegreeandmergersandacquisitionsvaluecreation |