西方企业并购绩效理论研究评述文海涛.pdfVIP

7 1 () Vol.7 　No.1 　 　　　　　　　　 200 8 1 J ournal of Bei ing J iaotong U niversity (Social Sciences Edition) 　Jan.2008 文　海　涛 (北京交通大学 经济管理学院, 北京 100044) 　:并购绩效的研究一直是并购研究的核心和难点之 一,企 并购的发祥地是美国, 以美英为代表的西方国家 对并购的研究也相对成熟, 总结评价西方学者关于并购绩效的研究成果, 对完善我国企 并购理论研究及指导并 购实践具有重要意义。本文对西方学者关于企 并购绩效理论的研究做了综述和评价, 以期对我国并购绩效研究 带来启示。 :并购理论;并购绩效;绩效评价 :F272 　　　:A 　　　:1672-8106 (200 8)01-0065-05 Review of Present Research About Mergers and Acquisitions Performance in Western Country WEN H ai-tao (School of Eco nomics and M anagement, Bei ing Jiao tong University, Bei ing 100044, China) Abstract:T he research of merger performance is a key arena as w ell as lasting and most dif ficult t opic of mergers and acquisitions.Since the M A o riginally took place in w estern developed count ry , the research of M A in western country, especially in A merica, is relatively mature and advanced. T herefore, in this paper, the western scholars research achievements about the perfo rmance of M A are sum marized and review ed sy stem atically .It is believed that this review is meaning ful and can provide enlightenment either in practice or theoretical research about the corporate mergers and acquisi- tio ns ev aluation in China . Key words:M A theory;perfo rmance of M A ;perf orm ance evaluation 一、引　　言 。, 100 , , 20 60 , 。 , 、 , 、 , 、 , , 、 。 ,, 。 、 　　:2007-05-08 :(1966—), , , , 。 ()　　　　　　　　　　　　　　　200 8 66 () 二、关于并购价值创造问