内部控制缺陷披露与并购绩效 |
| |
引用本文: | 吴勇,陈慧,朱卫东. 内部控制缺陷披露与并购绩效[J]. 中国注册会计师, 2020, 0(3): 49-55,3 |
| |
作者姓名: | 吴勇 陈慧 朱卫东 |
| |
作者单位: | 合肥工业大学 |
| |
基金项目: | 国家自然科学基金局(室)委托项目:国家自然科学基金依托单位信用评价体系和管理机制研究(J1924003);安徽省教育厅教学研究项目省级重点项目:新一代信息技术条件下决策型会计人才培养模式研究(2017jyxm0040)。 |
| |
摘 要: | 内部控制缺陷披露不仅向外部传递了负向信号,而且不利于并购过程中的价值预测、有效监督和并购整合,这是否会对收购方的并购绩效产生负向影响值得探究。本文基于我国沪深A股上市公司并购数据,采用综合财务指标分析法衡量并购绩效,建立多元回归模型,检验并购方内部控制缺陷披露对并购绩效的潜在影响。实证结果表明,上市公司并购当年披露内部控制缺陷将会降低并购绩效,而且披露的内部控制缺陷越严重,并购绩效越差。
|
关 键 词: | 内部控制 重大缺陷 并购 公司绩效 |
Disclosures of Defectsof Internal Control System and M&A Performance |
| |
Abstract: | The disclosures of the defects in the internal control systemsendnegative signals to the external parties,and arenot conducive to the value forecast and effective supervision in the M&A process and the post M&A integration either.It is worth exploringwhether this phenomenon will have negative impacts on the M&A performance of the acquiring parties.Based on the data of A-share listed companies in Shanghai and Shenzhen stock markets on the M&A activities,the article usesthe Composite Financial Index Analysis methodto measure the M&A performance,and establishesa Multivariate Regression Modelto verify the potential impacts of such disclosures of the acquiring partieson their M&A performance.It empirically finds thatfor the listed companies,such disclosuresin the current year ofthe M&A activitieswillundermine the M&A performance:the more seriousthe disclosed defects are,the poorer the M&A performance becomes. |
| |
Keywords: | |
本文献已被 维普 等数据库收录! |
|