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dc.contributor.advisor崔展文
dc.contributor.author王新源
dc.date.accessioned2016-02-23T00:58:15Z
dc.date.available2016-02-23T00:58:15Z
dc.date.issued2015-07-09 11:02:45.0
dc.identifier.urihttps://dspace.xmu.edu.cn/handle/2288/94680
dc.description.abstract为探究目标公司股价的历史极端值对收购对价的影响及其市场反应,本文通过实证分析主要得出三条结论。第一,根据汤姆森金融(ThomsonFinancial)、国际标准数据库(Compustat)以及美国证券价格研究中心(CRSP)的数据,选取1984年1月1日至2012年12月31日期间,目标公司是上市公司且交易价格明确的并购事件(共12780个样本),分析得出,目标公司的52周内历史股价最低点对并购对价的影响相比于52周内历史股价最高点更为强烈;第二,拉长时间窗口,研究并购对价对于并购公司30天异常回报的影响,非理性因素被理性因素的影响覆盖,遵循新古典经济学预测;第三,以目标公司股价的历史峰值与历...
dc.description.abstractTo explore the effects of target’s previous extreme stock prices on bid premium and how market reacts to it, this paper draws three main conclusions through empirical analysis. Firstly, Data we adopt are from Thomson Financial, Compustat and CRSP.We filtrate deal type belongs to merger and acquisition, and then retain deals announcement date between Jan 1 1984 and Dec 31 2012, exclude targets are ...
dc.language.isozh_CN
dc.relation.urihttps://catalog.xmu.edu.cn/opac/openlink.php?strText=46523&doctype=ALL&strSearchType=callno
dc.source.urihttps://etd.xmu.edu.cn/detail.asp?serial=50466
dc.subject股价
dc.subject新古典经济学并购
dc.subject并购
dc.subjectStock Price
dc.subjectNeoclassical Theory
dc.subjectMerger and Acquisition
dc.title目标公司的股价对并购影响仅是心理效应吗??
dc.title.alternativeIs the effect of target firm’s pre-acquisition stock prices on mergers and acquisitions simple psychological phenomena?
dc.typethesis
dc.date.replied2015-05-21
dc.description.note学位:管理学硕士
dc.description.note院系专业:财务管理与会计研究院_财务学
dc.description.note学号:27820121150078


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