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《Finance & Economics》 2007-09
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Strategy of Valuation on Target Firm Based on Information Disclosure

He Yuhai1 Zhao Zebin2 An Shi3  
Information asymmetry and bounded rationality make the valuation process of target firm complex.The paper analyzed the information disclosure of target firm,especially voluntary disclosed information,and identified target firm's merging motives.We also studied the relationship between information disclosure and firm value.According to merging motives,acquiring firm can further value target firm.And information disclosure can weaken the bias coming from information asymmetry,which can also improve acquiring firm's methods and strategies on valuing target firm.We introduced the evolutionary stable strategy(ESS) of information disclosure,and proved the valuing strategy of acquiring firm is maximum under the ESS.
【CateGory Index】: F275
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【Citations】
Chinese Journal Full-text Database 2 Hits
1 Wang Wei & Jiang Gaofeng (College of Economics,Zhejiang University);Information Disclosure,Transparency and the Cost of Capital[J];Economic Research Journal;2004-07
2 ;自愿信息披露环境下控制结构披露的市场反应[J];Securities Market Herald;2004-12
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 ZHENG Zhi-lai,YUAN Ru-hua(School of Business,Hohai University,Nanjing 210098,China);A theoretical analysis of the unreasonable telephone expense in mobile communication trade[J];Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition);2006-01
2 Liang Yumei Li Honggang(School of Management,Beijing Normal University,100875,Beijing,China);EQUILIBRIUM ASSET PRICING MODEL BY CONSIDERING THE ASYMMETRY INFORMATION[J];Journal of Beijing Normal University(Natural Science);2006-04
3 Jiang Shuxia Dai Tao;Literature Review of Law and Financial Studies and Its Implication to China[J];Finance & Economics;2007-05
4 LIN Zhong-gao,XU-Hong,TANG Liang (Accounting Department,Anhui University of Technology,Ma'anshan 243002,China);Shareholding Structure,Disclosure of Internal Control & Enterprise Value[J];Collected Essays on Finance and Economics;2009-01
5 LIU Shan-min1,2,LIN Bin2,NIE Yi-jun2(1.School of Economics and Business,South China Normal University,Guangzhou 510006,China;2.School of Business,Sun Yat-sen University,Guangzhou 510275,China);Investor Relations Management (IRM) and the Cost of Equity Capital:Evidence from Internet Investor Relation Management[J];Journal of Finance and Economics;2008-05
6 Qin Xiufen (Guangdong Yuanguang soft Co.,Ltd.,Zhuhai,Guangdong 519085);Analysis of Quality of Accounting Information and Market Price[J];Communication of Finance and Accounting(Academy Version);2007-06
7 Cui Wei He Yifeng(Guanghua School of Management, Peking University;China Government Securities Despositery Trust & Clearing CO.LTD, Beijing 100871);Accounting Information Quality and Firm Investment Behavior——Empirical Evidence from China Stock Market[J];Communication of Finance and Accounting(Academy);2008-06
8 Yu Chunjiang(Management School, Xiamen University,Xiamen,Fujian 361005);Review on the Measurement of Corporate Transparency——A Discussion of the SZSE's Annual-rating on the Information Disclosure of Listed Corporate[J];Communication of Finance and Accounting(Academy);2008-06
9 ZHANG Hong-liang1,2 CUI Xue-gang1(1.Business School,Beijing Technology and Business University,Beijing 100048;2.Mobile Post-Doctoral Center of Business Administration,Nankai University,Tianjing 300071);IRM,Corporate Value and Investor Protection:An Empirical Study Based on the Appraisement Result of Top Secretaries of Directorate[J];Finance and Trade Research;2009-04
10 WAN Lunla,WANG Liping,JIANG Youguang(School of Liberal Arts and Economics,Hefei University of Technology,Hefei 230009,China);An Empirical Study on Factors Affecting Information Disclosure of Chinese Listed Companies:Based on Evidence from Yangtze River Delta Area's Listed Companies[J];Industrial Economics Research;2007-03
China Proceedings of conference Full-text Database 7 Hits
1 Chun Yu (School of Management, Xiamen University, 361005);The Investment Value of Information Disclosure Quality of Listed Firms:The Empirical Evidence From Shenzhen Stock Exchange[A];[C];2006
2 ;A Review of Empirical Accounting and Finance Research about Chinese Capital Market[A];[C];2008
3 Fu Xin and Donghua Chen Research Institute of Accounting and Finance Department of Accounting,School of Business Nanjing University,Nanjing,Jiangsu,China 210093;Earnings Quality,Institutional Environment,and Cost of Equity:Empirical Evidence from the Chinese Stock Market[A];[C];2009
4 Yixin Sha Baoyan Gu (University of Shanghai science and technology,Shanghai,200093);Investment decision and public corporation transparency[A];[C];2008
5 ;信息不对称与权益资本成本[A];[C];2005
6 He Yu,Zhang Tianxi (Management of School,Shanghai Jiaotong University,200052);Internet Financial Reporting,Information Asymmetry and the Cost of Capital[A];[C];2006
7 Chen Songsheng Liu Wendai;The Influence Factors of Information Disclosure of Internal Control of Listed Company——Based on the Empirical Evidence from Listed Companiesin Shanghai Stock Exchanges in 2007[A];[C];2009
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