A Study on Psychological Bias and Short-term Market Reaction －－Based on Chinese Listed Enterprises Serial Acquisitions
From the view of listed company behavior of serial acquisitions and psychological bias hypothesis, This article empirically analysis Chinese markets short term reaction on listed enterprises serial acquisitions. We have found that (1) compared with overconfidence hypothesis, conservation bias and anchoring effect have stronger influence on Chinese investors. (2) The first acquisition of listed company would effects the following acquisitions. (3) With the frustrated result of the first acquisition, market would revise its deviation faster.
Serial Acqusitions Overconfidence Hypothesis Conservative Bias Anchoring Effect
Yang Junhui
School of Management, Donghua University Shanghai, China, 200051
国际会议
大连
英文
169-173
2011-06-30（万方平台首次上网日期，不代表论文的发表时间）