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国外并购支付方式选择理论与实证研究评述 被引量:3

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摘要 西方国家的企业并购经过近百年的发展历史,其支付方式呈多样化趋势发展。目前主要包括:现金支付、换股并购、综合证券支付、杠杆收购等。而我国企业并购支付方式目前只有现金收购,资产折股和无偿划拨,采用股票或债券方式支付的案例还较少。
作者 袁立 付晶华
出处 《集团经济研究》 北大核心 2006年第09Z期176-176,共1页
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  • 1潘瑾,陈宏民.上市公司关联并购的绩效与风险的实证研究[J].财经科学,2005(1):88-94. 被引量:34
  • 2Faccio, M. Masulis, R. W. 2005. The Choice of Payment Method in European Mergers and Acquisitions [ J ]. The Journal of Finance, 60 (3) :1345 - 1388.
  • 3Franks, J. R. Harris, R. S. & Mayer, C. 1988. Means of Payment in Takeovers:Results for the United Kingdom and the United States [ J ]. Uni- versity of Chicago Press. 221 -258.
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  • 6Travlos, G. N. 1987. Corporate Takeover Bids, Methods of Payment, and Bidding Firm' s Stock Returns [ J ], Vol. XLII, No. 4:943 - 963.
  • 7Wansley, W. J. Lane, R. W. Yang, H. C. 1983. Abnormal Returns to Acquired Firms by Type of Acquisition and Method of Payment [ J ]. Finan- cial Management 12 : 16 -220.
  • 8Winship, C. Sobel, M. E. 2004. Causal inference in sociological studies. In Handbook of Data Analysis[M] ,481 - 503 (M. Hardy, ed. ). Thousand Oaks, Sage : CA.
  • 9GORDON M,YAGI J.Financial gains from conglomeratemergers[J].Research in Finance,1981(3):103-114.
  • 10WANSLEY W J,LANE R W,YANG H C.Abnormal re-turns to acquired firms by type of acquisition and methodof payment[J].Financial Management,1983(12):16-22.

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