报告题目：
Mergers, Employee Satisfaction, and Merger Outcomes: Evidence from Glassdoor Ratings
报 告 人：美国Pepperdine大学 冯泓睿 副教授
主办单位：金融系
报告时间：2024年12月20日 14:00-16:00
报告地点：东北大学浑南校区文管学馆B326
报告摘要：
This study considers how acquisitions impact employee satisfaction using crowd-sourced data. Satisfaction declines significantly following an acquisition relative to matched non-merging firms. Acquirers with declines in satisfaction experience negative post-merger fundamental and stock performance for the combined firm. Cross-sectional evidence suggests that this decline is most pronounced when the combined firms have a redundant workforce and when integration is challenging. Serial acquirers do not experience a decline in employee satisfaction, especially for later deals. Collectively, the evidence identifies employee morale at the acquiring firm as an important determinant of merger success, increasing our understanding of a long-standing puzzle.
报告人简介：
冯泓睿，美国Pepperdine大学金融学副教授，主要研究领域包括实证公司金融、自然语言处理，及环境、社会与公司治理。其文章发表在权威金融学和会计学期刊，包括Journal of Banking and Finance 、Journal of Management Accounting Research等。冯泓睿副教授于2017年获得美国俄克拉荷马州立大学金融学博士学位，本科和硕士分别就读于浙江大学和美国佐治亚理工学院。曾任宾州州立大学Behrend分校助理教授。
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