摘要
以我国沪深A股上市公司2011—2015年发生并购事件的公司为样本,共选择了596家国有控股上市公司和762家非国有控股上市公司。在混合所有制背景下,从股权结构与融资约束的角度对并购支付方式的选择进行了研究。结果表明:国有控股和非国有控股上市公司在并购支付方式选择中均受到股权结构和融资约束的影响。
Based on the companies having m&a events during 2011 -2015 among Chinese listed Compa- nies of Shanghai and Shenzhen A shares ,596 state - owned listed companies and 762 non - stated listed com- panies are chosen as the samples. Under the background of mixed - owned ownership, the selection of merger payment is studied from two perspectives of ownership structure and financial constrains. Results show that stat- ed - owned and non - stated listed companies are both influenced by ownership structure and financial con- strains in the selection of merger payment.
作者
黄莉
蔡金娥
HUANG Li CAI Jine(School of Economics and Management, Xi 'an Shioyou University, Xi 'an Shaanxi, 710065, China)
出处
《西安石油大学学报(社会科学版)》
2017年第1期28-34,55,共8页
Journal of Xi’an Shiyou University:Social Science Edition
基金
陕西省社会科学基金项目(2014P02)
关键词
混合所有制
融资约束
股权结构
并购支付方式
mixed ownership
financing constraints
ownership structure
mergers payment