清华紫光收购展讯通信并购协同效应研究

发布时间：2018-03-28 23:00

本文选题：并购　切入点：协同效应　出处：《石河子大学》2017年硕士论文

【摘要】：2009年,国务院对有效指引我国十二五期间的产业发展,颁布了《关于十大产业调整振兴规划》。《关于十大产业调整振兴规划》明确指出:在国民经济的九大产业中,应对龙头企业的并购和重组进行政策扶持和支持。《规划》对企业重组并购的肯定,在很大程度上刺激了国内中大型企业的并购热潮,且规模逐年扩大。据统计,仅2013年一年,我国就发生跨国并购案99起。其中,并购交易愈发复杂,并购风险愈发加大。因此,对并购可能发生的风险和可能带来的协同效益进行测算,对并购所带来的产出效益比进行衡量,对于降低并购风险,客观评价并购结果,就显得极其重要。这不但是企业并购中亟需解决的问题,也是近年来我国理论界在并购协同效应方面研究的重点。本篇研究运用并购协同效应相关理论和财务指标研究法,结合清华紫光收购展讯通信案例实际情况,通过切实分析,对清华紫光并购展讯通信协同效应进行评价,探索和研究清华紫光并购展讯通信的案例启示。本文对清华紫光收购展讯通信案例并购协同效应的研究,将有利于丰富我国理论界和学术界关于企业并购协同效应的研究成果,也有利于对同类型企业的并购提供借鉴。
[Abstract]:In 2009, the State Council promulgated the "Ten Industrial Adjustment and Revitalization Plan" to effectively guide the industrial development during the 12th Five-Year Plan of our country. The State Council clearly pointed out that among the nine major industries of the national economy, Policy support and support should be given to the mergers and acquisitions and reorganization of leading enterprises. The affirmation of the reorganization and merger of enterprises in the "Plan" has to a large extent stimulated the M & A boom of medium and large enterprises in China, and the scale has expanded year by year. According to statistics, it is only one year in 2013. There are 99 cross-border mergers and acquisitions in China. Among them, M & A transactions are becoming more complex and M & A risks are increasing. Therefore, the possible risks and potential synergistic benefits of M & A are measured. It is very important to measure the ratio of output and benefit brought by M & A to reduce the risk of M & A and to evaluate the result of M A objectively, which is not only a problem that needs to be solved in M & A. In recent years, it is also the focus of the research on the synergy effect of M & A in the theoretical circle of our country. This study applies the theory of synergy effect of M & A and the financial index research method, combining with the actual situation of the communication case of Tsinghua Ziguang acquisition, through the practical analysis. This paper evaluates the synergetic effect of Tsinghua Ziguang M & A exhibition communication, explores and studies the case inspiration of Tsinghua Ziguang M & A. It will be beneficial to enrich the research results of the synergy effect of M & A in the academic and theoretical circles of our country, and also to provide reference for the M & A of the same type of enterprises.
【学位授予单位】：石河子大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F271;F426.671

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