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企业并购中目标公司股权结构特征分析

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摘要 分析什么样的上市公司容易被并购者看中,一直是投资者,特别是证券投资基金等机构投资者十分关注的问题。本文从理论分析角度考察上市公司并购中目标公司的股权结构特征及其对被并购可能性的影响,选取2005年被并购的上市公司作为样本,采用Logistic条件概率模型进行回归分析和检验。关于股权结构对公司并购发生可能性影响的主要结论,即国有股比例低、股权相对分散且流动性强的公司容易发生并购。所得到的估计模型对并购的发生有较强的解释能力。
作者 郑浩
出处 《北方经贸》 2008年第1期34-36,共3页 Northern Economy and Trade
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