以公司的品类延伸事件为研究对象,考察了品类延伸性质——总体业务匹配度和具体业务匹配度以及品类延伸行为——企业对新延伸业务的持股比例和延伸相对规模对投资者决策行为的影响,并且考察了企业新延伸业务的行业盈利能力对投资者决策行为所起的调节作用。
This paper tries to examine the effect of category extension event on investors' decision-making based on the objective of the category extension event of listed companies. It examines three kinds of factors,which will affect the investors' evaluation on category extension event: the characteristic of category extension,that is the degree of prototype fit and the degree of exemplar fit; the behavior of category extension,that is the firm's ownership on the new extension business and the relative size of category extension. In the end,it also examines the moderation effect of the profitability of the new extension industry on investors' decision-making.