上市公司股权性质与外资并购——基于巢东股份和珠海中富案例的比较分析

The Nature of Listed Company Equity and Foreign Capital M&A——A Comparative Case Study of Chaodong Co.,Ltd. And Zhuhai Zhongfu

本文通过两个不同股权性质(国有企业和民营企业)的外资并购案例,分析比较了外资并购我国国有和民营上市公司在股权价格、信息泄露、公司治理以及绩效等方面的异同。从而,以一个新的视角——即目标公司的股权性质来分析外资并购,为外资并购相关研究提供了进一步的经验证据。

This paper conducts a comparative case study of foreign capital MA of one state-owned company and that of one private company,analyzes the similarities and differences in equity price,information leakage,corporate governance and perfor-mance in the process of foreign capital MA,and thus from a new perspective i.e.the nature of the target company equity,pro-vides further empirical evidence for the research of foreign capital MA.