基于EVA的中国国有企业海外并购绩效评估——以中海油田服务公司海外并购为例

Evaluation on Performance of State-owned Enterprises Overseas M&A Based on EVA——For the Overseas M&A of China Oilfield Services Limited Case

针对国有企业的海外并购如何在不损害股东价值的情况下,使企业的规模得以扩大、行业地位和竞争力得以提升,文章提出了交易阶段的EVA评估模型,以帮助企业制定正确的并购战略,寻找对企业更有利的目标企业,摒弃不正确的目标企业的选择。文章应用修正后的EVA模型,评估中海油服海外并购绩效,分析该企业海外并购的经验和教训,给出提升国有企业海外并购绩效的建议。

How to unharmed shareholder＇s value in M＆A activities and to make the enterprise scale enlarger and to improve the status of the industry and competitiveness. This paper puts forward EVA evaluation model in the bargaining, it helps enterprises to draw up the proper M＆A strategy and to search more better target enterprise to get rid of the unnecessary choice; it apply innovation EVA model to evaluate performance of overseas M＆A and analyzed the experience and lesson of success and failure, it puts forward relevant suggestions and measures.