基于EVA的上市公司并购绩效研究

Research of Listed Companies' M&A Performance Based on EVA

自2008年国际金融危机以后,世界经济在脆弱性和不确定性的状态下缓慢复苏。各国经济发展明显充满风险和不确定性,而目前我国经济发展相对稳定,近几年来我国并购交易的活跃度很高。企业并购行为在新形势下的动机、方式、绩效具有特殊性,因此,很有必要根据我国的实际情况,分析公司并购在我国的发展方向、绩效以及相应的发展战略具有重要的现实意义。

After the international financial crisis in 2008,the world economy recovers slowly with greater vulnerability and uncertainty.Many countries＇ economies are obviously full of risks and uncertainties.But at present the economic development of our country is relatively stable.In recent years,merger and acquisition activities of Chinese enterprises are increasing.Their motivations,methods and performance in the new situation has particularities.Therefore,according to the actual situation in our country,it is necessary to analyze the development direction,performance and the corresponding development strategy of corporate merger and acquisitions.Based on some ma performance theories and the relevant data,we analyze ma performance and factors which affect it using economic value added evaluation and put forward some suggestions to promote ma performance.