英语翻译
6.We use the compustat advertising variable (mnemonic:XAD) which representshe cost of advertising in media such as radio,television,periodicals,and any otherpromotional expenses.Following the industrial organization literature and Chemmanurand Yan (2009b),we use a measure labeled “advertising intensity” which is definedas advertising expenditure in year t scaled by total sales (compustat mnemonic:SALE)at the end of year t.In our multivariate analyses we use pre-merger announcementadvertising intensity of the acquirer as the dependent variable and otherproduct market related control variables such as sales,changes in sales relative to the prior year,pre-merger announcement market competition (defined as fraction offirm sales relative to the total industry sales,where industry is based on the three-digitSIC code),and the advertising intensity in the prior year as independent variables.
文章题目是产品市场中的广告效应对于并购支付方式的影响,里面的人名还有文献就不用翻译了.我现在分不多,等处理了其他问题以后可以追加分数.