中国上市公司跨国并购绩效与其影响因素--研究.pdf

1．3 ofthis Scope paper 1．3．1DefinitionofCBMA AflrmcanundertakeFDIinahost ineitheroftwo country investmentinanew or withan localfirm．Inthis facility,oracquiringmerging existing andCROSS-border containsbothcross—border acquisition． paper，CBMA merger Inacross-border assetsand oftwofirms totwo merger,the operations belonging differentcountriesarecombinedtoestablishanew contains legalentity．It one survivesto consolidation(equalmergers)andstatutorymerger(onlycompany the and oftheother becomea established allof debt equity newly companyassuming tobea firmthatceased legalentity)。 1 cent an Inacross-border controI(i．e．morethan0 equity,in acquisition。the per localor affiliate)ofassetsand istransferredfromalocal existing foreign operations containstwosub toa former anaffiliateofthelatter．It foreigncompany,thebecoming of increasesina affiliate affiliates(capitalforeign already groups：acquisitionforeign ownedthe or ofsharein by acquirer,fullpartialacquisition foreign ofalocaI acquisitionfirm．(UNCTAD，2000)． 1．3．2DefinitionofCBMA performance