| 中国上市公司并购绩效EVA回报率评价 |
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| 引用本文： | 何硕.中国上市公司并购绩效EVA回报率评价[J].南京财经大学学报,2009(1). |
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| 作者姓名： | 何硕 |
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| 作者单位： | 南京大学商学院,江苏南京210092 |
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| 摘 要： | 市场经济的发展带动了中国企业的并购热潮。本文运用修正了的EVA指标对1998年至2000年发生并购行为的213家上市公司进行了实证分析，通过跟踪其并购前到并购后三年为股东创造价值的能力的变化，发现中国上市公司在进行并购后往往绩效下滑，使其股东遭受到财富的损失。
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| 关 键 词： | 并购 EVA EVA回报率 价值 |
M & A Evaluation of Chinese Listed Companies-Based on EVA Return Rate |
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| HE Shuo.M & A Evaluation of Chinese Listed Companies-Based on EVA Return Rate[J].Journal of Nanjing University of Finance and Economics,2009(1). |
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| Authors: | HE Shuo |
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| Institution: | School of Business;Nanjing University;Nanjing 210092;China |
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| Abstract: | The development of the economy and market brought about mergers and acquisitions boom of China's enterprises.In this paper,I choose 213 listed companies,which had M&A action from 1998 to 2000,and use adjusted EVA indicator to do empirical analysis.By tracking their ability to create value for shareholders from three years before M&A to 3 years after M&A,I concluded that Chinese listed companies' performance tend to decline after M&A,making its shareholders suffer wealth losses. |
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| Keywords: | M&A EVA EVA Return Rate Value |
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