商誉对上市公司经营业绩的长短期效应研究

The Impact of Business Reputation on Short-term and Long-term Effect of Operating Performance of Listed Companies

现代企业之间对资源的竞争日趋激烈,而盈利能力关乎企业对资源的获取能力。商誉作为企业过去的交易和事项形成的一项资产,预期未来能够为企业带来经济利益。为了研究商誉对企业业绩所创造的贡献,本文选取了商誉综合占比较重的传媒、医药、计算机、机械、汽车行业,并从这五大行业中分别筛选出三家相对具有代表性的企业,运用财务指标分析法探究商誉对上市公司长短期经营绩效的影响,同时对某些企业并购后经营业绩不达预期的原因进行分析,提出合理评估,强化风险控制;以提升企业可持续盈利能力为目的;加强并购后的资源整合等可行性建议。

The competition for resources is becoming increasingly fierce among modern enterprises,so the ability to gain payoffs is vital for them to get resources.As an asset formed by the past transactions and events,business reputation can bring economic benefits for the enterprise in the future.In order to study the business reputation contributed to the enterprises' performance,this article selects the media,medicine,computer,machinery,automobile industry,of which the business reputation accounts for a relatively higher proportion,and also selects three representative enterprises from these five big industries.To explore how the business reputation influence the short-term and long-term performance of listed companies,this paper uses the financial index analysis method,summarizes the reasons why some business performances are not up to expectations after the merger and acquisition,and then puts forward reasonable assessment and strengthens the risk control to improve enterprise's sustainable profitability,thus strengthens the feasible suggestions such as resources integration after merger.