治理结构对并购绩效的影响

Impacts of Governance Structure on the Performance of Chinese Listed-companies

公司治理结构对上市企业的并购绩效有一定的影响,为了了解治理指标与并购绩效指标的关系, 文中采用了不同于其他研究的二维分类法,建立了计量模型进行了统计分析。研究结果表明:适当的第一大 股东股权比例及管理层持股有利于提高公司的并购绩效,并提出了适当提高管理层持股的比例的建议。

Governace structure is related to listed-companies＇ performance of M＆A. To understand the relationship between governance indexes and indexes of M＆A, a two-dimension classify method that and some econometric models different from others is used are constructed in the paper. The results prove： proper stockshare proportion of the first shareholder and equity of management will be benefit to companies＇ performance of M＆A. It is suggested that improve the proportion of equity of management.