外资股权并购与当前我国股市的发展

本文探讨我国股市与通过股权交易的外资并购（以下简称外资股权并购）之间的关系，其中对外资股权并购国企提升被并购国企的托宾Q值（Q=股票的市影资产的重置成本）进行了理论创新，这对解决目前我国国有法人股解禁问题具有一定的现实意义。同时对我国股市与外资股权并购做了目前学界还未做过的实证分析，通过分析笔者认为：针对目前我国低迷与宽幅振荡的股市，外资股权并购将是其后续发展的动力之一。

Foreign Investment M&As Through Exchange of Shares and the Current Development of Stock Market

This article analyzes the relations between stock market and Foreign Investment M&As through exchange of shares.And the theory which is the Foreign Investment M&As through exchange of shares boost the Tobin Q of mergerd state corporations,is innovated.Trough this theory,we can solve the circulation of state-own share.The empirical analysis on the relations between the stock market and Foreign Investment M&As through exchange of shares,which is the academe hasn't done.Through the analysis of this article,we get the conclusion,which is Foreign Investment M&As through exchange of shares is the impetuous headspring of the turndown and furious stock market of our country.