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The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence

PloS one, 2023-10, Vol.18 (10), p.e0283125-e0283125 [Peer Reviewed Journal]

COPYRIGHT 2023 Public Library of Science ;2023 Lin et al 2023 Lin et al ;ISSN: 1932-6203 ;EISSN: 1932-6203 ;DOI: 10.1371/journal.pone.0283125

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  • Title:
    The effect of auditor’s cooperation with independent financial advisors on the reliability of performance commitment—Based on the moderating effect of managerial overconfidence
  • Author: Lin, Dongchuan ; Wang, Yeling ; Zheng, Qiqi ; Li, Hongyi
  • Valls Martínez, María del Carmen
  • Subjects: Auditors ; Biology and Life Sciences ; China ; Computer and Information Sciences ; Consultants ; Economic aspects ; Economic development ; Engineering and Technology ; Evaluation ; Financial services industry ; Financial statements ; Research and Analysis Methods ; Social Sciences
  • Is Part Of: PloS one, 2023-10, Vol.18 (10), p.e0283125-e0283125
  • Description: Based on the sample of major asset restructuring transactions of Shanghai and Shenzhen A-share listed companies from 2009 to 2018, this paper uses Logit model to examine the impact of auditors ' cooperation experience with independent financial advisors on the reliability of performance commitments, and to examine the moderating effect of management overconfidence on the relationship between the two. The results show that the cooperation experience between auditors and independent financial advisors is significantly positively correlated with the reliability of performance commitment, and the closer the cooperation experience is, the easier the performance commitment will be realized, this has played a financial intermediary team effect. Further analysis shows that in the context of management overconfidence, the positive relationship between financial intermediaries ' cooperation experience and the reliability of performance commitment is stronger. The research results enrich the research on the influencing factors of M & A performance commitment and the economic consequences of financial intermediaries ' cooperation, and help the transaction subjects to rationally view performance commitment and regulators to improve policies and regulations.
  • Publisher: San Francisco, CA USA: Public Library of Science
  • Language: English
  • Identifier: ISSN: 1932-6203
    EISSN: 1932-6203
    DOI: 10.1371/journal.pone.0283125
  • Source: GFMER Free Medical Journals
    PubMed Central
    Public Library of Science (PLoS)
    ProQuest Central
    DOAJ Directory of Open Access Journals
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