外资并购我国上市公司地动因、绩效和影响.pdf

Abstract This is the MAtothelisted indomestic paperstudingforeign—capital company to its aswellasthe china,which reason．Besides，It attemptanalysecharacter,trend securitiesmarketto thecases fom1999—2008comesfromChinese investigateranged theviewof the v丽匆theacquisition reason，thispaperemphasize performance．From tothe owned“core are to resource”，andvery foreign—captitalpreferecompany willing forthe the listed more,both pay highpremium．Even foreign-capital，domestic andthedomestic take intheMA． government company part Fromthe stest，thiscollectsthelatestcasesfrom1999-2008，aim emprical Paper the results．Asa toverify MA andfinancial result，all performanceby premium thesecases the abnormalreturnis presentpositiveperformance：the significantly showstheinvestoris totheMA onfinancial positive，which optimistic case,based directMA betterthan MAinthe of resulsts，the perform undirect aspect and structure． profitablity,operatingcapabilitescapital To be MAact sword”．Becauseit important，theforein-captialas‘two—edge hasbeen both