This paper investigates the influence of industry-level overvaluation on technological acquisitions, utilizing merger and acquisition (M&A) data from Chinese listed firms spanning 2007 to 2022. Our analysis confirms that industry-level overvaluation promotes technological acquisitions, a finding that remains significant even after several robustness checks. Compared to acquirers with lower financial constraints, those with higher financial constraints rely more on industry-level overvaluation to drive technological acquisitions. Furthermore, the study indicates that technological acquisitions initiated by industry-level overvaluation tend to enhance the innovative output of the acquirer. By exploring the relationship between industry-level overvaluation and technological acquisitions, this research extends the literature on misvaluation-driven M&A. Additionally, this study provides new evidence and perspectives on the impact of capital markets on the real economy, and contributes to the healthy development of capital markets and M&A markets in emerging countries.
Download full-text PDF |
Source |
|---|---|
| http://www.ncbi.nlm.nih.gov/pmc/articles/PMC11563430 | PMC |
| http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0313848 | PLOS |
Publication Analysis
Top Keywords
Similar Publications
Ion-Regulated Signal Amplification Optical Microfiber Interferometric DNA Sensor.
J Biophotonics
January 2025
Faculty of Physics Science and Technology, Guangxi Normal University, Guilin, China.
Genetic information sensors play a pivotal role in the biomedical field. The detection of deoxyribonucleic acid (DNA) is achieved experimentally using an optical microfiber interferometric sensor, which operates based on an ion-regulation sensitivity enhancement mechanism. The optical microfiber is fabricated by drawing optical fiber into a diameter of less than 10 μm via the melting and tapering technique.
View Article and Find Full Text PDFAcquisition of Speech Prosody in a Non-native Tone Language by Children With and Without Autism Spectrum Disorder.
J Autism Dev Disord
January 2025
The First Hospital of Jinan University, Guangzhou, China.
Purpose: Children with autism spectrum disorder (ASD) often show abnormal speech prosody. Tonal languages can pose more difficulties as speakers need to use acoustic cues to make lexical contrasts while encoding the focal function, but the acquisition of speech prosody of non-native languages, especially tonal languages has rarely been investigated.
Methods: This study aims to fill in the aforementioned gap by studying prosodic focus-marking in Mandarin by native Cantonese-speaking children with ASD (n = 25), in comparison with their typically developing (TD) peers (n = 20) and native Mandarin-speaking children (n = 20).
Novel Nuclease MbovP701 with a Yqaj Domain Is Interrelated with the Growth of .
Microorganisms
December 2024
National Key Laboratory of Agricultural Microbiology, Huazhong Agricultural University, Wuhan 430070, China.
() is characterized by a reduced genomic size and limited synthetic capacity, including the inability to synthesize nucleotides de novo, relies on nucleases for nutrient acquisition and survival. A number of nucleases have been implicated in pathogenicity, facilitating substrate degradation and contributing to DNA repair mechanisms that enhance bacterial persistence. The present study confirmed that the T5.
View Article and Find Full Text PDFThree-Dimensional Ultrasound for Physical and Virtual Fetal Heart Models: Current Status and Future Perspectives.
J Clin Med
December 2024
Discipline of Woman Health, Municipal University of São Caetano do Sul (USCS), São Caetano do Sul 09521-160, SP, Brazil.
Congenital heart defects (CHDs) are the most common congenital defect, occurring in approximately 1 in 100 live births and being a leading cause of perinatal morbidity and mortality. Of note, approximately 25% of these defects are classified as critical, requiring immediate postnatal care by pediatric cardiology and neonatal cardiac surgery teams. Consequently, early and accurate diagnosis of CHD is key to proper prenatal and postnatal monitoring in a tertiary care setting.
View Article and Find Full Text PDFCan Aluminum Affect Social Behavior and Cortisol Plasma Profile in the Neotropical Freshwater Teleost (Teleostei: Characidae)?
Life (Basel)
December 2024
Laboratório de Aquicultura e Ecofisiologia Marinha (LAQUEFIM), Departamento de Fisiologia, Instituto de Biociências, Universidade de São Paulo (IB/USP), Rua do Matão, trav. 14, No. 321, Cidade Universitária, São Paulo 05508-090, SP, Brazil.
Aluminum (Al) can cause endocrine disruption in aquatic animals, but assessments of animal social behavior in neotropical teleost fish species with importance for Brazilian aquaculture have still not been addressed so far, which can further complete this ecotoxicological knowledge. In order to evaluate the social behavior and plasma cortisol concentration of fish exposed to Al, we performed a 1 h acute exposure with couples in three different experimental groups: control in neutral pH (CTL/n group), acid pH (pH/ac group), and aluminum in acid pH (Al/ac group; 2.0 mg L).
View Article and Find Full Text PDFWant AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!