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Study on the Peer Effect of Unrelated M&As Decisions

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DOI: 10.4236/me.2017.812096    420 Downloads   668 Views
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ABSTRACT

This paper takes 7464 pieces of M&As events for A-share listed companies in China from 2010 to 2015 as samples and investigates the industry peer effect of unrelated M&As decisions. The research shows that there exists the peer effect when companies make unrelated M&As decisions in the same industry. This paper also makes further examinations and finds that the M&As experience and scale of companies enhance the peer effect. Moreover, companies with more industry competitions have more obvious industry peer effect. This paper enriches the M&As decisions theory and has guiding significance in practice.

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Yu, L. (2017) Study on the Peer Effect of Unrelated M&As Decisions. Modern Economy, 8, 1441-1454. doi: 10.4236/me.2017.812096.

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