外资对中国上市公司并购效应的实证分析

Analysis of the Effect of Cross-border Mergers and Acquisitions on Chinese Listed Corporation

随着中国对外资并购政策进一步放宽和股权分置改革的顺利完成,外资并购中国上市公司将进入一个高峰期。因此,怎样利用外资来加强公司治理,改善经营业绩将是值得研究的问题,本文将采用国际通行的研究方法,以我国已发生外资并购上市公司的案例为样本,对目标公司的股票市场的短期表现以及长期经营业绩进行分析,得出一些有意义的结论。

With the Cross-border M&A policy loosening and the option,division completing smoothly,Cross-border M&A will be more and more likely to choose Chinese Listed company.Therefore,how to strengthen the companies’s management,what’s more,how to improve the target achievement will be an important question which is worth studying.Using the international general research techniques and cases in Cross-border M&A in China,this article carries on the analysis to the short-term performance in stock market as well as the long-term management achievement,we will draw some useful conclusion.