本文關(guān)鍵詞： 麗鵬股份 跨界并購 并購績效 股東效應(yīng)　出處：《蘭州財經(jīng)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著互聯(lián)網(wǎng)和新技術(shù)的不斷革新,傳統(tǒng)行業(yè)利潤不斷的下降已是不爭的事實,一方面?zhèn)鹘y(tǒng)行業(yè)上市公司不得不調(diào)整自己的發(fā)展戰(zhàn)略,尋找新的盈利增長點,另一方面,新興行業(yè)上市公司為了保持住自己的優(yōu)勢,也有非常強的擴張欲望。圍繞著業(yè)務(wù)轉(zhuǎn)型、多元化戰(zhàn)略、買殼上市、戰(zhàn)略合作、財務(wù)投資進行跨界并購已成為資本市場上一幕靚麗的風(fēng)景,2016年就有211家上市公司進行跨界并購,涉及的交易金額也將近9600億元,達到了歷史之最,這也彰顯出了企業(yè)尋找新的優(yōu)勢或做大自己優(yōu)勢的迫切需求。本文以我國上市公司跨界并購浪潮為背景,對上市公司的并購動與并購績效展開研究,本文共分了五個章節(jié):第一章為緒論。主要包括論文研究背景及意義、文獻綜述、研究的內(nèi)容和思路、本論文的創(chuàng)新點。第二章是跨界并購理論基礎(chǔ),依次概述了企業(yè)并購效應(yīng)理論、跨界并購的基本概念,并從不同的角度分析了我國跨界并購的發(fā)展現(xiàn)狀和趨勢。第三章是麗鵬股份跨界并購案例概述。依次介紹了并購雙方在活動發(fā)生前的基本情況,并購交易的詳細(xì)過程和安排。第四章是麗鵬股份跨界并購效應(yīng)分析,主要采取了市場法、事件研究法和財務(wù)指標(biāo)法對跨界并購前后進行了多角度的對比分析。第五章是案例得出的啟示和建議,并補充了本文的不足之處和展望部分。通過研究,本文得出了跨界并購使得公司的財務(wù)績效得到改善,股東效應(yīng)得到了大幅提高,實現(xiàn)了公司發(fā)展戰(zhàn)略意圖。通過總結(jié)跨界并購經(jīng)驗和不足,提出了一些有益建議,包括進行合理的戰(zhàn)略定位,采用合適的并購方式,防范并購整合風(fēng)險,積極探索新的支付方式,打擊利益輸送和內(nèi)幕交易等等。
[Abstract]:With the continuous innovation of the Internet and new technologies, it is an indisputable fact that the profits of traditional industries are declining. On the one hand, listed companies in traditional industries have to adjust their development strategies to find new profit growth points. On the other hand, in order to maintain their own advantages, emerging industry listed companies also have a very strong desire to expand around business transformation, diversification strategy, shell listing, strategic cooperation. Financial investment in cross-border mergers and acquisitions has become a beautiful scene on the capital market, in 2016, there are 211 listed companies to cross-border mergers and acquisitions, involving nearly 960 billion yuan of transactions. This paper takes the wave of cross-border mergers and acquisitions of listed companies in our country as the background. This paper is divided into five chapters: the first chapter is the introduction. It mainly includes the research background and significance, literature review, research content and ideas. The second chapter is the theoretical basis of cross-border mergers and acquisitions, which in turn outlines the theory of M & A effect and the basic concepts of cross-border M & A. The third chapter is an overview of Lipeng stock cross-border mergers and acquisitions cases. In turn, it introduces the basic situation of both sides before the activities. The detailed process and arrangement of M & A transaction. Chapter 4th is the analysis of the cross-border M & A effect of Lipeng shares, which mainly adopts the market method. Event research method and financial index method of cross-border mergers and acquisitions before and after the comparative analysis. Chapter 5th is a case of inspiration and recommendations, and complement the deficiencies and prospects of this article. Through the study. This paper concludes that cross-border mergers and acquisitions improve the financial performance of the company, shareholder effect has been greatly improved, achieve the strategic intent of the development of the company. Through the summary of cross-border M & A experience and shortcomings. Some useful suggestions are put forward, including reasonable strategic positioning, appropriate merger and acquisition methods, prevention of merger and acquisition integration risks, active exploration of new payment methods, crackdown on profit transmission and insider trading, and so on.
【學(xué)位授予單位】：蘭州財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F426.32;F271;F406.7

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相關(guān)期刊論文 前10條

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本文編號：1480708