ASU Electronic Theses and Dissertations
This collection includes most of the ASU Theses and Dissertations from 2011 to present. ASU Theses and Dissertations are available in downloadable PDF format; however, a small percentage of items are under embargo. Information about the dissertations/theses includes degree information, committee members, an abstract, supporting data or media.
In addition to the electronic theses found in the ASU Digital Repository, ASU Theses and Dissertations can be found in the ASU Library Catalog.
Dissertations and Theses granted by Arizona State University are archived and made available through a joint effort of the ASU Graduate College and the ASU Libraries. For more information or questions about this collection contact or visit the Digital Repository ETD Library Guide or contact the ASU Graduate College at gradformat@asu.edu.
Displaying 1 - 2 of 2
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- All Subjects: investor behavior
- All Subjects: small and medium enterprises (SME)
- Creators: Shen, Wei
Description
After the 2008 financial crisis, along with information technology and its application
innovation into the burst period, Shared faster economic growth, and then entered into a
rapid expansion in 2014, quickly penetrate into many areas and market segments.
As the securities industry practitioners and Internet financial practitioners, I am
very concerned about sharing economic model in the development of securities
investment niche. As the Internet and mobile penetration rate rise in recent years, the
Internet financial in the rapid development of our country, investors get used for
investment decision-making information via the Internet. Internet social investment
sharing platform based on knowledge sharing and rapid development, has formed
"opinion leaders", "combined with", "automated financial innovation model". The
emergence of these new patterns, provide investors with investment of knowledge sharing,
the investors behavior changes, many small and medium-sized investors into social
sharing platform for the combination of investment talent information and follow orders,
and centered on investment talent view form fan interaction.
This article around the "Shared economic environment on the impact of portfolio
share on investor behavior research," the theme, the relevant literature and resources, and
to detect Shared economic environment provided by the social share portfolio, whether to
change the traditional information decision and disadvantages of small and medium-sized
investors, whether really improved the small and medium-sized investors return on
investment, its conclusion try to explain the traditional period research literature on active
investment and passive investment, the relevant conclusions of small and medium-sized
investors and institutional investors, sharing in the Internet the rapid development of
economic period is changed.
innovation into the burst period, Shared faster economic growth, and then entered into a
rapid expansion in 2014, quickly penetrate into many areas and market segments.
As the securities industry practitioners and Internet financial practitioners, I am
very concerned about sharing economic model in the development of securities
investment niche. As the Internet and mobile penetration rate rise in recent years, the
Internet financial in the rapid development of our country, investors get used for
investment decision-making information via the Internet. Internet social investment
sharing platform based on knowledge sharing and rapid development, has formed
"opinion leaders", "combined with", "automated financial innovation model". The
emergence of these new patterns, provide investors with investment of knowledge sharing,
the investors behavior changes, many small and medium-sized investors into social
sharing platform for the combination of investment talent information and follow orders,
and centered on investment talent view form fan interaction.
This article around the "Shared economic environment on the impact of portfolio
share on investor behavior research," the theme, the relevant literature and resources, and
to detect Shared economic environment provided by the social share portfolio, whether to
change the traditional information decision and disadvantages of small and medium-sized
investors, whether really improved the small and medium-sized investors return on
investment, its conclusion try to explain the traditional period research literature on active
investment and passive investment, the relevant conclusions of small and medium-sized
investors and institutional investors, sharing in the Internet the rapid development of
economic period is changed.
ContributorsMa, Gang (Author) / Gu, Bin (Thesis advisor) / Yan, Hong (Thesis advisor) / Shen, Wei (Committee member) / Arizona State University (Publisher)
Created2017
Description
This study investigates the performance effects of cross-industry mergers and acquisitions (M&A) using a sample of firms listed in China’s Growth Entrepreses Market (GEM). Compared to firms listed in the Shanghai and Shenzhen Stock Exchanges, firms listed in the GEM are much smaller and tend to derive the majority of their revenues from a single industry. I first analyze the motives for firms listed in the GEM to engage in M&As and propose a set of factors that may influence their likelihood of M&A activities. Using data on 55 cross-industry M&As between January 1, 2012 and December 31, 2016, I find that investor generally responded positively in short-term, as indicated by the positive accumulated abonormal returns over the first five trading days following the announcements. Meanwhile, I found no evidence that investors benefited from cross-industry M&As in long-term over three years after the event. Further analysis suggests that the short-term effects of cross-industry M&As by GEM listed firms were influenced by the target firm’s market valuation, whether the M&A was paid by cash, the amount of the payment, and the degree of difference between the acquiring firm’s and the target firm’s industries. These findings have important implications for the investors and senior executives of firms listed in the GEM.
ContributorsZhou, Wei (Author) / Shen, Wei (Thesis advisor) / Yu, Xiaoyun (Thesis advisor) / Jiang, Zhan (Committee member) / Arizona State University (Publisher)
Created2018