Abstract

This paper uses the A-share data of listed companies listed on the Shanghai and Shenzhen stock exchanges from 2012 to 2016 and uses the Xtlogit model to test the relationship between managers’ overconfidence and M&A (mergers and acquisitions) decisions, and also to test the relationship between directors’ vigilance and managers’ overconfidence and M&A decisions, and the corresponding robustness test was carried out using the Xtprobit model. The study found that managers’ overconfidence can significantly promote M&A, and board vigilance can significantly moderate the relationship between managers’ overconfidence and M&A decision-making, and can inhibit M&A caused by managers’ overconfidence.

Details

Title
Research on the relationship between managerial overconfidence and M&A decision-making-moderating role based on board vigilance
Author
Zhang, Quan 1 ; Wang, Zhentao 2 

 Luoding Vocational and Technical College, Luoding, Guangdong 527200, China 
 Maotai College, Renhuai, Guizhou 564500, China 
Pages
1043-1052
Publication year
2022
Publication date
2022
Publisher
De Gruyter Poland
e-ISSN
24448656
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
3191243754
Copyright
© 2022. This work is published under http://creativecommons.org/licenses/by/4.0 (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.