[1] 赵息, 张西栓. 内部控制、高管权力与并购绩效——来自中国证券市场的经验证据[J]. 南开管理评论, 2013, 16(2): 75-81.doi:10.3969/j.issn.1008-3448.2013.02.009
[2] 杨道广, 张传财, 陈汉文. 内部控制、并购整合能力与并购业绩——来自中国上市公司的经验证据[J]. 审计研究, 2014(3): 43-50.
[3] 王艳, 阚铄. 企业文化与并购绩效[J]. 管理世界, 2014(11): 146-157+163.
[4] 徐虹, 林钟高, 芮晨. 产品市场竞争、资产专用性与上市公司横向并购[J]. 南开管理评论, 2015, 18(3): 48-59.doi:10.3969/j.issn.1008-3448.2015.03.006
[5] 王艳, 李善民. 社会信任是否会提升企业并购绩效?[J]. 管理世界, 2017(12): 125-140.doi:10.3969/j.issn.1002-5502.2017.12.010
[6] 李凤羽, 杨墨竹. 经济政策不确定性会抑制企业投资吗?——基于中国经济政策不确定指数的实证研究[J]. 金融研究, 2015(4): 115-129.
[7] BONAIME A, GULEN H, ION M. Does policy uncertainty affect mergers and acquisitions? [J]. Journal of Financial Economics, 2018, 129(3): 531-558.doi:10.1016/j.jfineco.2018.05.007
[8] BORTHWICK J, ALI S, PAN X. Does policy uncertainty influence mergers and acquisitions activities in China? a replication study[J]. Pacific-Basin Finance Journal, 2020, 62: 1-13.
[9] NGUYEN N H, PHAN H V. Policy uncertainty and mergers and acquisitions[J]. Journal of Financial and Quantitative Analysis, 2017, 52(2): 613-644.doi:10.1017/S0022109017000175
[10] 徐士伟, 陈德棉, 陈鑫, 等. 企业社会责任信息披露与并购绩效——垄断度与组织冗余的权变效应[J]. bob手机在线登陆学报(社会科学版), 2019, 21(1): 74-80.
[11] DOUKAS J A, PETMEZAS D. Acquisitions, overconfident managers and self‐attribution bias[J]. European Financial Management, 2007, 13(3): 531-577.doi:10.1111/j.1468-036X.2007.00371.x
[12] BARBER B M, LYON J D. Detecting long-run abnormal stock returns: the empirical power and specification of test statistics [J]. Journal of Financial Economics, 1997, 43(3): 341-372.doi:10.1016/S0304-405X(96)00890-2
[13] 杨超, 谢志华, 宋迪. 业绩承诺协议设置、私募股权与上市公司并购绩效[J]. 南开管理评论, 2018, 21(6): 198-209.doi:10.3969/j.issn.1008-3448.2018.06.018
[14] 李善民, 周小春. 公司特征、行业特征和并购战略类型的实证研究[J]. 管理世界, 2007(3): 130-137.
[15] 冯根福, 吴林江. 中国上市公司并购绩效的实证研究[J]. 经济研究, 2001(1): 54-61+68.
[16] LE Q V, ZAK P J. Political risk and capital flight[J]. Journal of International Money and Finance, 2006, 25(2): 308-329.doi:10.1016/j.jimonfin.2005.11.001
[17] ADAM Y. US corporate investment over the political cycle[J]. Quarterly Journal of Finance, 2015, 5(1): 109-127.
[18] JENS C E. Political uncertainty and investment: causal evidence from US gubernatorial elections[J]. Journal of Financial Economics, 2017, 124(3): 563-579.doi:10.1016/j.jfineco.2016.01.034
[19] 陈德球, 陈运森, 董志勇. 政策不确定性、税收征管强度与企业税收规避[J]. 管理世界, 2016(5): 151-163.
[20] PASTOR U, VERONESI P. Political uncertainty and risk premia[J]. Journal of Financial Economics, 2013, 110(3): 520-545.doi:10.1016/j.jfineco.2013.08.007
[21] BAKER S, BLOOM N, DAVIS S, et al. A measure of economic policy uncertainty for China[R]. Chicago:Working Paper of University of Chicago, 2013.
[22] BAKER S, BLOOM N, DAVIS S. Measuring economic policy uncertainty[J]. Quarterly Journal of Economics, 2016, 131(4): 1593-1636.doi:10.1093/qje/qjw024
[23] 叶德珠, 王梓峰, 李鑫. 经济政策不确定性与企业多元化程度选择[J]. 产经评论, 2020, 11(2): 34-54.
[24] 饶品贵, 岳衡, 姜国华. 经济政策不确定性与企业投资行为研究[J]. 世界经济, 2017, 40(2): 29-53.
[25] GULEN H, ION M. Policy uncertainty and corporate investment[J]. Review of Financial Studies, 2016, 29(3): 523-564.
[26] BAKER S, BLOOM N, DAVIS S. Has economic policy uncertainty hampered the recovery?[R].Palo Alto:The Social Science Research Network(SSRN) Working Paper, 2012.
[27] 雷立坤, 余江, 魏宇, 赖晓东. 经济政策不确定性与中国股市波动率预测研究[J]. 管理科学学报, 2018, 21(6): 88-98.doi:10.3969/j.issn.1007-9807.2018.06.007
[28] JULIO B, YOOK Y. Political uncertainty and corporate investment cycles[J]. Journal of Finance, 2012, 67(1): 45-84.doi:10.1111/j.1540-6261.2011.01707.x
[29] WANG Y, CHEN C R, Huang Y S. Economic policy uncertainty and corporate investment: evidence from China[J]. Pacific Basin Finance Journal, 2014, 26(1): 227-243.
[30] PANOUSI V, PAPANIKOLAOU D. Investment, idiosyncratic risk, and ownership[J]. Journal of Finance, 2012, 67(3): 1113-1148.doi:10.1111/j.1540-6261.2012.01743.x
[31] BEAUDRY P, SCHIANTARELLI C F. Monetary instability, the predictability of prices, and the allocation of investment: an empirical investigation using U. K. panel data[J]. American Economic Review, 2001, 91(3): 648-662.doi:10.1257/aer.91.3.648
[32] BLOOM N, BOND S, REENEN J V. Uncertainty and investment dynamics[J]. Review of Economic Studies, 2007, 72(2): 391-415.
[33] ATANASSOV J, JULIO B, LENG T. The bright side of political uncertainty: the case of R&D[R]. The Social Science Research Network(SSRN) Working Paper, 2015.
[34] 孟庆斌, 师倩. 宏观经济政策不确定性对企业研发的影响: 理论与经验研究[J]. 世界经济, 2017, 40(9): 75-98.
[35] 顾夏铭, 陈勇民, 潘士远. 经济政策不确定性与创新——基于中国上市公司的实证分析[J]. 经济研究, 2018(2): 109-123.
[36] GARFINKEL J A, HANKINS K W. The role of risk management in mergers and merger waves[J]. Journal of Financial Economics, 2011, 101(3): 515-532.doi:10.1016/j.jfineco.2011.03.011
[37] 申慧慧, 于鹏, 吴联生. 国有股权、环境不确定性与投资效率[J]. 经济研究, 2012, 47(7): 113-126.
[38] BHAGWAT V, DAM R, HARFORD J. The real effects of uncertainty on merger activity[J]. Review of Financial Studies, 2016, 29(11): 3000-3034.doi:10.1093/rfs/hhw061
[39] BESTER H, STRAUSZ R. Contracting with imperfect commitment and noisy communication[J]. Journal of Economic Theory, 2007, 136(1): 236-259.doi:10.1016/j.jet.2006.07.009
[40] STOLE L, BEBCHUK L A. Do short-term objectives lead to under-or overinvestment in long-term projects?[J]. Journal of Finance, 1993, 48(2): 719-729.doi:10.1111/j.1540-6261.1993.tb04735.x
[41] FRANCIS B B, HASAN I, ZHU Y. Political uncertainty and bank loan contracting[J]. Journal of Empirical Finance, 2014, 29: 281-286.doi:10.1016/j.jempfin.2014.08.004
[42] ALMEIDA H, CAMPELLO M, WEISBACH M S. The cash flow sensitivity of cash[J]. Journal of Finance, 2004, 59(4): 1777-1804.doi:10.1111/j.1540-6261.2004.00679.x
[43] CAMPELLO M, GRAHAM J R, HARVEY C R. The real effects of financial constraints: evidence from a financial crisis[J]. Journal of Financial Economics, 2010, 97(3): 470-487.doi:10.1016/j.jfineco.2010.02.009
[44] 周菊, 陈欣. 并购业绩补偿承诺选择的动因研究——基于信息不对称的解释[J]. 投资研究, 2020, 39(1): 51-59.
[45] 翟进步, 李嘉辉, 顾桢. 并购重组业绩承诺推高资产估值了吗[J]. 会计研究, 2019(6): 35-42.doi:10.3969/j.issn.1003-2886.2019.06.005
[46] 潘爱玲, 邱金龙, 杨洋. 业绩补偿承诺对标的企业的激励效应研究——来自中小板和创业板上市公司的实证检验[J]. 会计研究, 2017(3): 46-52.doi:10.3969/j.issn.1003-2886.2017.03.008
[47] 吕长江, 韩慧博. 业绩补偿承诺、协同效应与并购收益分配[J]. 审计与经济研究, 2014, 29(6): 3-13.doi:10.3969/j.issn.1004-4833.2014.06.001
[48] MATTHEW D C, DAVID J D, DIANE K D. Earnouts: a study of financial contracting in acquisition agreements[J]. Journal of Accounting & Economics, 2010, 51(1): 151-170.
[49] 彭俞超, 韩珣, 李建军. 经济政策不确定性与企业金融化[J]. 中国工业经济, 2018(1): 137-155.
[50] 王红建, 李青原, 邢斐. 经济政策不确定性、现金持有水平及其市场价值[J]. 金融研究, 2014(9): 53-68.
[51] YUN H, PAUL L. Measuring economic policy uncertainty in China[J]. China Economic Review, 2020, 59(2): 1-18.
[52] 荣麟, 朱启贵. 业绩补偿承诺对收购方短期股价绩效影响的实证检验[J]. 统计与决策, 2018, 34(13): 163-167.
[53] FREEDMAN L S, SCHATZKIN A. Sample size for studying intermediate endpoints within intervention trials or observational studies[J]. American Journal of Epidemiology, 1992, 136(9): 1148-1159.doi:10.1093/oxfordjournals.aje.a116581
[54] CHANG E C, CHENG J W, YU Y. Short-sales constraints and price discovery: evidence from the Hong Kong market[J]. Journal of Finance, 2007, 62(5): 2097-2121.
[55] JENSEN M, MECKLING W. Theory of the firm: managerial behavior, agency costs and ownership structure[J]. Journal of Financial Economics, 1976, 3(4): 305-360.doi:10.1016/0304-405X(76)90026-X
[56] 连玉君, 苏治. 融资约束、不确定性与上市公司投资效率[J]. 管理评论, 2009, 21(1): 19-26.
[57] MARTYNOVA M, RENNEBOOG L. What determines the financing decision in corporate takeovers: cost of capital, agency problems or the means of payment?[J]. Journal of Corporate Finance, 2009, 15(3): 290-315.doi:10.1016/j.jcorpfin.2008.12.004
[58] KAPLAN S N, ZINGALES L. Do investment-cash flow sensitivities provide useful measures of financing constraints?[J]. Quarterly Journal of Economics, 1997, 112(1): 169-215.doi:10.1162/003355397555163
[59] 蒋腾, 张永冀, 赵晓丽. 经济政策不确定性与企业债务融资[J]. 管理评论, 2018, 30(3): 29-39.
Baidu
map