中國上市公司并購經(jīng)濟(jì)后果研究——基于第一百貨并購華聯(lián)商廈的案例分析.pdf

1、對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)碩士學(xué)位論文中國上市公司并購經(jīng)濟(jì)后果研究——基于第一百貨并購華聯(lián)商廈的案例分析姓名：張永杰申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：會(huì)計(jì)學(xué)指導(dǎo)教師：浦軍20090501AbstractSincethefirstwaveofM&Ain1895，theresearchonM&AbegantodevelopgraduallyThestudyofenterpriseM&Ahadaverylonghistoryinthewesternacademi

2、cs，andthewesterneconomistshadalreadyobtainedacertainresultWhetherM&AcallcreatevaluebecomesoneofthemosthotlydebatedissuesinthefieldofM&AtheoryAlongwiththedevelopmentofM&AandmaturityofChinascapitalmarket，thereareplentyofdo

3、mesticM&Acases，whichareresearchsamplesSomedomesticscholarsalsocarriedoutfurtherresearchandexplorationonM&A，especiallyonvaluecreationandanalysisofeconomicconsequencesaftertheM&AInthispaperwetaketheEventStudyandQualityanal

4、ysisapproachtoanalyzetheeconomicoutcomeaftertheM&ATheshort—termperformanceanalysisisbased011thedatafromthecapitalmarket，andthelongtermperformanceisbasedontherecentfinancialstatementsWefoundthattheattitudetowardstheshortt

5、ermperfomaanceiSnotpositiveinthecapitalmarketHoweverinthelongrunthelongtermperformanceisbetterThisstudyisbasedonChina’SlistedcompaniesinthecaseofmergerbetweenShanghaiNO1DepartmentStore’SandHualianCompanyLtd，whichisthefir

6、stcaseofM&AbetweenlistedcompaniesinChinaWeuseEventStudytoanalyzetheshorttermperformanceafterM&AwhileQualityanalysisapproachisusedtoanalyzethelongtermperformanceFirstofall，thisarticleintroducesthebasictheoryandpreviousres

7、earchachievementsarereviewedandcommentedbrieflySecondlythesecondpartofthearticleintroducesthebackgroundofthecase，andweexplainthecharacteristicsduringtheprocessoftheM&AcaseThirdl％fromtwoaspectsoftheperformanceevaluation，t

8、heshorttermandlongtermperformanceevaluation，westudythecaseindetail，conductinganempiricalanalysisbythewayofEventstudyinshorttermandanalyzingthefinancialdatabythewayofQualityanalysisapproachinthelongtermFinallyaccordingtot