科学研究
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东财·会计与财务论坛：王雅琪
报告题目：Target Employee Reviews and Acquisition Outcomes: Does a Private Target Make a Difference?
报告人：王雅琪
报告时间：2025年12月21日（周日）9:10--10:10
报告地点：#腾讯会议：542-165-730
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
We utilize employee reviews from Glassdoor.com to investigate the role of target firms’ employee opinions in corporate merger and acquisition (M&A) activities. Our findings indicate that, for private targets, employee ratings positively influence merger outcomes, whereas the effect is reversed for publicly listed targets. Our evidence supports two channels to explain these effects: the information asymmetry channel and the employee satisfaction channel. In subsequent analyses, we delve into employee sentiment towards M&A by parsing employee comments using a three-step keyword-based textual analysis and fine-tuning the Bidirectional Encoder Representations from Transformers (BERT) model. Our results show that target firms’ employee sentiment positively influences both the likelihood of M&A completion and the overall M&A outcomes.
【报告人简介】
王雅琪，博士毕业于新加坡南洋理工大学，硕士毕业于中央财经大学，本科毕业于东北财经大学。主要从事公司治理、深度学习（大模型）与信息披露等方面的研究，研究成果多次在国内外顶尖会议上进行汇报，包括2025 FM年会、2025 Asian FA年会以及2025中国金融学年会等。
【特别提醒】
未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。
撰稿：郭亚飞 初审：刘冰 复审：刘璐 终审：许浩然
单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
