Volume 18, Number 2, December 2023
| The impact of market information asymmetry on chain merger and acquisition effect information |
Abstract
Market changes may lead enterprise groups to conduct a series of systematic mergers and acquisitions for specific purposes in order to obtain the resources needed by the enterprise. This study explores the motives of M&A from different angles and whether the expected M&A benefits can be achieved and analyzes whether the M&A cases brought benefits to the business groups successfully through a number of financial indicators and stock price performance. The research results found that if the information is asymmetric or the information is hidden, the wealth effect will not be obtained.
Keywords: M&A, Information Effects, Chain of Mergers and Acquisitions, Information Asymmetry
JEL Classification: C22、D83