上市公司并购整合绩效评价研究

Study on Evaluation on Merger and Acquisition's Synergy Performance of Listed Companies

通过运用多元统计方法构造综合评判指数对整合绩效进行了定量化的研究。分析表明 ,上市公司作为并购公司其整合绩效要优于上市公司作为目标公司的整合绩效。进一步的评价得出结论 ,无论上市公司作为并购公司还是目标公司 ,他们的整合绩效作为整体均表现较好 。

Synergy performance is an important part of M&A's performance of listed companies, which directly decides M&A's success and failure. This paper made quantitative evaluation on synergy performance by using multi unit statistics methods to construct synthetically evaluation index. The first each index analysis showed that M&A's synergy performance of listed companies is better than those of listed companies which are being target companies .It is further concluded that whether listed companies are M&A companies or target companies, their M&A's synergy performance are good as a whole, but there are still lots of problems need to be solved, such as M&A's intention is deviating from value creation.