信息不对称与并购企业上市

Macroeconomics eJournal Pub Date : 2008-03-01 DOI:10.2139/ssrn.1097399

Patrick Cusatis

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引用次数: 0

摘要

在本研究中，我考察了并购完成后收购公司的公告期回报和长期回报。本文提出了一种基于信息不对称的负并购绩效解释。我的证据表明，交易场所与信息不对称之间存在联系。此外，1998年至2002年合并浪潮中的亏损似乎与交易场所有关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Information Asymmetry and Listing of Acquiring Firms

In this study, I examine announcement period returns and long-term returns to acquiring firms following the completion of a merger. I offer an explanation for negative merger performance based on asymmetric information. My evidence indicates that there is a link between trading venue and information asymmetry. In addition, the losses from the merger wave of 1998-2002 appear to be linked to trading venue.

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Macroeconomics eJournal

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