The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence.
Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ' cooperation experience with independent financial advisors on the reliability of performance commitm...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2023-01-01
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| Series: | PLoS ONE |
| Online Access: | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0283125&type=printable |
| _version_ | 1797640289090797568 |
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| author | Dongchuan Lin Yeling Wang Qiqi Zheng Hongyi Li |
| author_facet | Dongchuan Lin Yeling Wang Qiqi Zheng Hongyi Li |
| author_sort | Dongchuan Lin |
| collection | DOAJ |
| description | Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ' cooperation experience with independent financial advisors on the reliability of performance commitments, and to examine the moderating effect of management overconfidence on the relationship between the two. The results show that the cooperation experience between auditors and independent financial advisors is significantly positively correlated with the reliability of performance commitment, and the closer the cooperation experience is, the easier the performance commitment will be realized, this has played a financial intermediary team effect. Further analysis shows that in the context of management overconfidence, the positive relationship between financial intermediaries ' cooperation experience and the reliability of performance commitment is stronger. The research results enrich the research on the influencing factors of M & A performance commitment and the economic consequences of financial intermediaries ' cooperation, and help the transaction subjects to rationally view performance commitment and regulators to improve policies and regulations. |
| first_indexed | 2024-03-11T13:28:48Z |
| format | Article |
| id | doaj.art-b987ff760a8b4dd280706b77dd1861c2 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-03-11T13:28:48Z |
| publishDate | 2023-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-b987ff760a8b4dd280706b77dd1861c22023-11-03T05:32:41ZengPublic Library of Science (PLoS)PLoS ONE1932-62032023-01-011810e028312510.1371/journal.pone.0283125The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence.Dongchuan LinYeling WangQiqi ZhengHongyi LiBased on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ' cooperation experience with independent financial advisors on the reliability of performance commitments, and to examine the moderating effect of management overconfidence on the relationship between the two. The results show that the cooperation experience between auditors and independent financial advisors is significantly positively correlated with the reliability of performance commitment, and the closer the cooperation experience is, the easier the performance commitment will be realized, this has played a financial intermediary team effect. Further analysis shows that in the context of management overconfidence, the positive relationship between financial intermediaries ' cooperation experience and the reliability of performance commitment is stronger. The research results enrich the research on the influencing factors of M & A performance commitment and the economic consequences of financial intermediaries ' cooperation, and help the transaction subjects to rationally view performance commitment and regulators to improve policies and regulations.https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0283125&type=printable |
| spellingShingle | Dongchuan Lin Yeling Wang Qiqi Zheng Hongyi Li The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. PLoS ONE |
| title | The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. |
| title_full | The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. |
| title_fullStr | The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. |
| title_full_unstemmed | The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. |
| title_short | The effect of auditor's cooperation with independent financial advisors on the reliability of performance commitment-Based on the moderating effect of managerial overconfidence. |
| title_sort | effect of auditor s cooperation with independent financial advisors on the reliability of performance commitment based on the moderating effect of managerial overconfidence |
| url | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0283125&type=printable |
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