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    Title: 中國大陸上市公司海內外併購事件宣告效果之分析
    The Announcement Effects of Mainland China Listed Companies’ M&A Events
    Authors: 白楊
    Bai, Yang
    Contributors: 譚丹琪
    Tan, Danchi
    白楊
    Bai, Yang
    Keywords: 事件研究法
    累積異常報酬率
    被併企業所在國
    Date: 2016
    Issue Date: 2016-08-02 15:50:47 (UTC+8)
    Abstract: 本文主要對中國大陸企業海內外併購事件宣告效果進行分析,探究被併企業所在國之發展程度及文化距離對股價之異常報酬率的影響。本文選取2008年1月1日至2015年12月31日中國大陸在上海和深圳交易所上市的公司發生的併購事件為樣本,運用事件研究法進行分析。根據T檢定及多元迴歸結果顯示,通過併購實現外部擴張對於中國大陸上市公司來說是一種合理有效的方式,從總體上看併購事件給企業帶來正的累積異常報酬率。同時被併企業所在國在已開發國家會給主併公司股東帶來更多的異常報酬。本文還針對海外併購事件進行迴歸分析,發現被併企業所在國與中國大陸的文化距離越遠,主併企業的短期併購績效越好。
    Reference: 中文資料
    通信信息報. 2015并购案席卷互联网界 BAT坐拥半壁江山. http://www.chinastock.com.cn/yhwz_about.do?methodCall=getDetailInfo&docId=5188664 2015/12/31
    毛雯(2011) 我國上市公司跨國併購績效的實證研究.湖南大學會計學未出版之碩士論文
    田海峰 黃祎 孫廣生(2015) 影響企業跨國併購績效的制度因素分析-基於2000-2012年中國上市企業數據的研究. 國際投資. 第六期
    邵建新 巫和懋 薛熠(2012) 中國企業跨國併購的戰略目標與經營績效:基於A股市場的評價. 世界經濟. 2012(05):81-105
    林玫君(2002) 台灣企業跨國與國內併購行為財富效果之比較研究. 彰化師範大學會計研究所未出版之論文
    陳郁涵(2013) 跨國及國內購併對主併公司財富效果之影響:金融危機前後的績效表現.東海大學財務金融學系未出版之碩士論文
    董莉軍(2012) 上市公司跨國併購績效的實證檢驗. 財會月刊. 2012(02):19-21
    閻大穎(2009) 國際經驗、文化距離與中國企業海外併購的經營績效. 經濟評論. 第一期

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    Description: 碩士
    國立政治大學
    國際經營與貿易學系
    103351053
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0103351053
    Data Type: thesis
    Appears in Collections:[國際經營與貿易學系 ] 學位論文

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