不同产权下上市公司商誉减值与绩效变动研究

On the Relationship among Goodwill Impairment,Nature of Property Right and the Changes of Enterprise Performance

商誉减值作为一种特殊的会计活动,频繁出现在上市公司的并购行为中。由于并购的盲目性和过程的复杂化,并购行为中商誉减值问题成为值得关注的问题。针对不同类型的产权性质反映其对商誉减值和企业绩效的影响,通过对存在商誉减值的A股上市公司进行分析发现:当企业发生商誉减值后,就将引发企业绩效的真实变动,表现在企业绩效的下滑,而非盈余管理的目的;非国有企业比国有企业的商誉减值对绩效下滑的影响更为明显,且地方国有控股企业比中央控股企业商誉减值对绩效的变动更加显著。继而通过扩展了并购商誉带来的经济后果的实证研究,为企业并购提供了新的思路并对政府的监管提出针对性建议。

As a special accounting activity, goodwill impairment appear frequently in the corporation merger Due to the blind merger and complicated process, goodwill impairment becomes a very important issue. Ac- cording to the different types of property right and their effect on the goodwill impairment and the enterprise performance, and based on the analysis of the goodwill impairment of the A shares of listing corporation, the paper has concluded： The goodwill impairment in the enterprise will lead to the change of the enterprise per- formance, evidenced by the decline of the performance rather than the purpose of earnings management, espe- cially in the non - SOEs. The local state - owned holding enterprises are significantly influenced than the cen- tral state -owned holding enterprises. After a empirical study of the economic consequence of the expanded goodwill merger, this paper aims to propose some new ways for enterprise merger and some measures for super- vision for the government.