上市公司多元化并购与同业并购绩效分析-会计专业论文.docxVIP

安徽财 安徽财经大学硕士学位论文 上市公司 上市公司多元化并购与同业并购绩效研究 目录 内容摘要 随着资本市场的日益完善，企业的并购活动也逐渐呈现出规范化 和市场化的特征，国内外学者在过去的几十年里运用不同的方法对企 业并购活动与企业绩效的影响问题进行了大量的学术研究，得出的结 论莫衷一是。我国企业并购活动中的同业并购与多元化并购活动对企 业绩效有何影响，以及能否为企业和社会创造价值等问题需要我们进 一步的研究。 本文依据并购的相关理论，阐述了我国和国外考察多元化并购和 同业并购绩效实证检验的情况和我国上市公司并购的制度背景与发展 现状，并在此基础上选取了 2006-2008 年（并购绩效中财务指标数据 延伸到 2010 年底）的 52 个并购样本，运用 SPSS 软件考察与说明了同 业并购、多元化并购和总体并购的收购公司绩效的动态表现，并观察 其异同以及揭示绩效与并购类型的关系，根据以上的研究结论，提出 相关的政策建议。 关键词：同业并购，多元化并购，因子分析法，并购绩效 AN EMPIRICAL STUDY ON DIVERSIFIED MA AND HORIZONTAL MA PERFORMANCE OF CHINESE LISTED COMPANIES ABSTRACT With the further development of Chinas socialist market economic system，the continuous improvement of MA activities of our enterprises will be gradually showing the characteristics of standard and mercerization . In the topic of whether the performance of enterprises has improved after the occurrence of MA activity ,foreign scholars has made a large number of academic researches ,using different methods in the past few decades ,but the conclusion is also no agreement .However ,what effect have horizontal M A and diversified M A on the performance of enterprises after MA activity and whether it creates value for our enterprises and society also needs in-depth discussion of domestic scholars. This thesis summarizes the theory of MA Motives, both at home and abroad were reviewed using the event study method and financial index method for diversified MA and horizontal MA’s acquisition performance and empirical examination of the situation of industry of our country and the background and the present situation of the performance of Chinese listed company MA research system .On this basis, I select the 2006-2008 year of 52 groups (Performance of mergers and acquisitions of financial index data extending to the end of 2010), using the SPSS software based on factor analysis method to study the horizontal MA ， diversified MA and the total sample MA company’s performance and dynamic process, reveal the horizontal MA and di