投资者情绪 管理者过度自信与并购绩效实证分析-an empirical analysis of investors emotional managers overconfidence and m a performance.docxVIP

the impact of investor sentiment on MA performance and its impact path. Empirical results show that market mispricing due to investor sentiment leads to listed companies’ MA activities and the stock market driven acquisitions theory has some applicability in our country. Investor sentiment has a significant deterioration effect on MA performance and there exists the intermediate effect channel of managerial overconfidence through which investor sentiment affects MA performance indirectly. Key words: Investor sentiment; Managerial overconfidence; MA performance; Corporate governance 目 录 第一章 绪论