内容简介：This study examines whether engagement auditors with valuation expertise can improve acquirers' M&A outcomes. M&A deals often fail to create shareholder value due to overvaluation of target firms. We find that auditors with valuation expertise significantly enhance acquirers' stock returns around the announcement period, reduce takeover premiums, and lower the likelihood of post-acquisition goodwill impairment. Their impact is more pronounced for inexperienced acquirers or in complex valuation scenarios. The results show that these auditors provide valuable consulting in M&A by influencing managerial decisions and improving overall outcomes.

演讲人简介：齐保垒，教授、博士生导师，入选教育部青年长江学者、财政部全国会计高端人才等，担任陕西省工商管理类教学指导委员会秘书长及智能会计与财务研究所所长。国际知名学术期刊Asia-Pacific Journal of Accounting and Economics、《会计学季刊》副主编，《中国会计评论》《管理会计研究》编委。在Journal of Accounting and Economics、《管理世界》等国内外著名学术期刊发表论文60余篇。研究成果多次获得教育部和陕西省科研成果奖项，主持多项国家自然基金项目，其中青年基金项目的结项成绩为“特优”。