| 股改背景下上市公司并购的绩效分析 |
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| 引用本文： | 朱乔云,余颖,唐宗明. 股改背景下上市公司并购的绩效分析[J]. 上海管理科学, 2009, 31(4): 17-20 |
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| 作者姓名： | 朱乔云 余颖 唐宗明 |
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| 作者单位： | 上海交通大学安泰经济与管理学院,上海,200052 |
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| 基金项目： | 国家自然基金，上海哲学社会科学基金 |
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| 摘 要： | 十几年来我国上市公司并购发展迅速，对国民经济生活影响越来越大。中国市场如此多的并购案例，究竟能否增强企业的绩效，能否改善企业的状况，股权分置改革又能为并购绩效影响带来什么样的变化，这是非常需要值得研究的问题。文章以股权分置改革为背景，选取了2005年发生并购的229家上市公司作为样本，结合股改前后并购特征对收购方财务数据进行了研究。通过DEA模型分析并购对公司绩效的影响。
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| 关 键 词： | 兼并收购 控制权转移 DEA模型 决策单元 |
Performance Analysis of M&A in Chinese Listed Company Based on Non-Tradable Shares Reform |
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| Zhu Qiaoyun,Yu Ying,Tang Zongming. Performance Analysis of M&A in Chinese Listed Company Based on Non-Tradable Shares Reform[J]. Shanghai Managent Science, 2009, 31(4): 17-20 |
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| Authors: | Zhu Qiaoyun Yu Ying Tang Zongming |
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| Affiliation: | Zhu Qiaoyun, Yu Ying, Tang Zongming |
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| Abstract: | Over the past 10 years, mergers and acquisitions among the listed companies develop rapidly in China, which plays a more and more important role in the economy. Do M＆A facilitate the enterprises to improve their performance or not？ Do non-tradable shares reform improve M＆A efficiency？ This is an issue worthy of further study. We choose 229 listed companies, which experienced M＆A in 2005 as sample, and compare the financial data for several years before and after M＆A. We Using DEA model to analyze the influence of M＆A. |
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| Keywords: | M＆A Control Transfer DEA Model DMU |
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