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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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Chinese Journal Full-text Database 10 Hits
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