發(fā)布時間：2018-07-03 13:54

  本文選題：企業(yè)并購 + 績效評價��； 參考：《吉林財經(jīng)大學(xué)》2017年碩士論文

【摘要】：最近幾年,企業(yè)間競爭隨著全球經(jīng)濟(jì)一體化的推進(jìn)而愈演愈烈,所以資本擴(kuò)張就成為了在競爭中取得勝利的重要手段,其中最為快速的方式就是通過并購達(dá)到資本快速擴(kuò)張?“強強聯(lián)合”的并購模式從全球第五次并購浪潮至今,是最為常見的,“強強聯(lián)合”的方法是通過并購來獲取彼此的優(yōu)良資源,協(xié)同發(fā)展達(dá)到共贏的目標(biāo)?我國也在近幾年經(jīng)濟(jì)全球一體化的推動之下,走入了產(chǎn)業(yè)結(jié)構(gòu)調(diào)整的階段,因此我國經(jīng)濟(jì)與全球經(jīng)濟(jì)已密不可分,使得并購的相關(guān)案例也不斷增多?同時,很多的研究案例都證明了并購可以為企業(yè)帶來確實的效益,不過也有一些研究發(fā)現(xiàn),并購也存在著不成功案例的?所以,考察并購行為是否能夠真正為企業(yè)帶來績效提升,就成為了很重要的值得進(jìn)一步研究的課題?本文將對東方航空并購上海航空案例進(jìn)行研究?此案例中兩家企業(yè)屬于“弱弱聯(lián)合”,不同于以往很多“強強聯(lián)合”的并購案例?兩家公司希望通過采取并購,找到有效的解決方法,來提高雙方的財務(wù)水平,改善即將退市的風(fēng)險,提升核心競爭力?本文在相關(guān)理論依據(jù)的基礎(chǔ)之上,了解并購的過程及動機,分析比較并購前后財務(wù)與非財務(wù)績效,總結(jié)這次并購的成功經(jīng)驗,希望能夠給未來我國并購企業(yè)提供借鑒?本文分為五個章節(jié):第一章主要論述研究背景?意義?方法及國內(nèi)外關(guān)于并購的研究綜述;第二章主要對并購動因理論?并購績效理論以及并購績效評價方法相關(guān)理論進(jìn)行論述;第三章分別對東方航空和上海航空的情況進(jìn)行介紹,對并購案例的動機?過程進(jìn)行說明;第四章透過財務(wù)指標(biāo)和非財務(wù)指標(biāo)進(jìn)行分析,對企業(yè)并購績效進(jìn)行評價?并對東方航空此次并購的績效進(jìn)行總結(jié),說明并購的成功與不足之處;第五章以前文的論證分析為基礎(chǔ),提出優(yōu)化并購績效的具體措施,旨在對并購企業(yè)的后續(xù)操作提供借鑒?
[Abstract]:In recent years, with the development of global economic integration, inter-firm competition has become increasingly fierce, so capital expansion has become an important means to win the competition, and the fastest way is to achieve rapid capital expansion through mergers and acquisitions. From the fifth wave of M & A in the world, the M & A mode of "strong and powerful combination" is the most common so far. The method of "strong and powerful combination" is to acquire each other's excellent resources through merger and acquisition, and to achieve the goal of win-win through coordinated development. China has also entered the stage of industrial structure adjustment under the impetus of global economic integration in recent years. Therefore, China's economy and the global economy have been inseparable, making mergers and acquisitions related to the increasing number of cases? At the same time, many research cases have proved that mergers and acquisitions can bring real benefits to enterprises, but there are also some studies found that mergers and acquisitions also exist unsuccessful cases? Therefore, to investigate whether M & A can really bring performance improvement for enterprises has become a very important subject worthy of further study. This paper will study the case of China Eastern Airlines merger and acquisition of Shanghai Airlines? In this case, the two enterprises belong to the "weak and weak alliance", different from many previous "strong and strong combination" M & A cases? The two companies hope to adopt mergers and acquisitions, find an effective solution to improve the financial level of both sides, improve the risk of delisting, enhance core competitiveness? Based on the relevant theoretical basis, this paper understands the process and motivation of M & A, analyzes and compares the financial and non-financial performance before and after M & A, summarizes the successful experiences of M & A, and hopes to provide reference for future M & A enterprises in China. This paper is divided into five chapters: the first chapter mainly discusses the research background? Meaning? The second chapter is about the motivation theory of M & A. M & A performance theory and M & A performance evaluation methods related theories are discussed; the third chapter introduces the situation of China Eastern Airlines and Shanghai Airlines, the motivation of M & A cases? The fourth chapter analyzes the performance of M & A through the analysis of financial indicators and non-financial indicators. This paper summarizes the performance of China Eastern Airlines M & A, explains the success and shortcomings of M & A; Chapter 5, based on the argumentation and analysis of previous papers, puts forward specific measures to optimize the performance of M & A, in order to provide a reference for the subsequent operation of M & A enterprises.
【學(xué)位授予單位】：吉林財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F271;F560.68;F562.6

【參考文獻(xiàn)】

相關(guān)期刊論文 前8條

1 康涵滋;;我國企業(yè)并購融資中的問題及其對策研究[J];中國-東盟博覽;2013年09期

2 張向欽;;我國企業(yè)海外并購融資方式創(chuàng)新研究[J];商業(yè)經(jīng)濟(jì);2012年05期

3 唐蓓;;基于管理者過度自信假設(shè)的公司并購融資行為研究[J];統(tǒng)計與決策;2011年18期

4 石洪萍;;企業(yè)并購融資視角的多層次資本市場建設(shè)[J];中國注冊會計師;2011年08期

5 陳善樸;;企業(yè)并購績效研究[J];現(xiàn)代商貿(mào)工業(yè);2010年01期

6 陳健;席酉民;郭菊娥;;中國上市公司橫向關(guān)聯(lián)方并購績效的實證研究[J];經(jīng)濟(jì)管理;2005年14期

7 齊殿偉,董曉平;我國企業(yè)并購融資的現(xiàn)狀及發(fā)展策略[J];工業(yè)技術(shù)經(jīng)濟(jì);2005年01期

8 馮根福,吳林江;我國上市公司并購績效的實證研究[J];經(jīng)濟(jì)研究;2001年01期

相關(guān)碩士學(xué)位論文 前2條

1 馬宇洋;我國企業(yè)并購融資方式問題研究[D];河北大學(xué);2013年

2 夏瑩;我國民營企業(yè)海外并購融資問題研究[D];云南財經(jīng)大學(xué);2012年

，

本文編號：2093878