Influence of Overseas MA to Company Stock Price in Chinese listed Companies

摘要

In order to examine the influence of Chinese companies' overseas M&A on their stock prices, this study conducted an empirical analysis, sampling 39 Chinese listed companies which promoted overseas M&A from 1999 to 2007. As a result of the empirical analysis, it was found that their stock prices started to increase prior to the announcement of M&A, supporting the existing information signaling hypothesis, and the companies having a higher rate of major shareholders' share and bigger company values positively affected their stock price increase.