This paper takes 7464 pieces of M&As events for
A-share listed companies in China from 2010 to 2015 as samples and investigates
the industry peer effect of unrelated M&As decisions. The research shows
that there exists the peer effect when companies make unrelated M&As
decisions in the same industry. This paper also makes further examinations and
finds that the M&As experience and scale of companies enhance the peer
effect. Moreover, companies with more industry competitions have more obvious
industry peer effect. This paper enriches the M&As decisions theory and has
guiding significance in practice.
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