Study on the Influence of Executive Team Overconfidence 
on Digital M&A Premium

Yuanyuan Wei; Xiaojuan Sheng*

doi:10.70711/frim.v3i2.6034

Study on the Influence of Executive Team Overconfidence on Digital M&A Premium

Yuanyuan Wei, Xiaojuan Sheng*

Abstract

Based on the digital M&A events of Chinas main board listed companies from 2015 to 2022, this paper empirically examines the
impact of executive team overconfidence on digital M&A premium. The results show that there is a significant positive correlation between
executive team overconfidence and digital M&A premium. This paper expands the research boundaries of the influencing factors of digital
M&A premium and the relationship between executive team overconfidence and digital M&A premium, and also provides a reference for enterprises to regulate the irrational psychological deviation of management.

Keywords

Executive team overconfidence; Digital mergers and acquisitions; M&A premium

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DOI: http://dx.doi.org/10.70711/frim.v3i2.6034

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