【摘要】 以2012—2021年中国沪深A股2 601家上市企业为研究样本，实证检验交易性尽职调查对并购支付方式的影响。研究发现，充分的交易性尽职调查对并购方的股票支付意愿产生正向影响。进一步研究表明，企业高管的财务背景能够强化交易性尽职调查与股票支付之间的关系，而高管的过度自信则弱化交易性尽职调查与股票支付之间的关系。为企业科学决策并购支付方式提供理论依据及现实指导。更多还原

【Abstract】 Taking 2 601 A-share listed companies in Shanghai and Shenzhen from 2012 to 2021 as research samples, this paper empirically tested the impact of transactional due diligence on the payment methods of M&A.It is found that sufficient transactional due diligence has a positive impact on the acquirer’s willingness to pay for shares.Further research shows that the financial background of corporate executives can strengthen the relationship between transactional due diligence and stock payment, while overconfidence can weaken the relationship between transactional due diligence and stock payment.This study provides theoretical basis and practical guidance for enterprises to make scientific decision on M&A payment mode.更多还原