Xiongyuan, Wang; Xu, Jing; Wang, Shuai - In: China journal of accounting research : CJAR 17 (2024) 1, pp. 1-36
Corporate mergers and acquisitions (M&As) are subject to skewed logic due to excessive government regulation. China is progressively adopting the Market Access Negative List (MANL) pilot to transfer the power of resource allocation from the government to the market. Using the DID method, we...