基于EVA的双汇跨国并购绩效研究

发布时间：2018-05-10 04:52

本文选题：跨国并购 + 跨国并购绩效评价　；参考：《广东工业大学》2017年硕士论文

【摘要】：企业跨国并购活动是市场经济深入发展的产物,作为企业发展过程的战略决策,能够帮助企业实现业务多元化,经营国际化,成为助力企业跨越式发展的有效手段。随着我国经济发展水平的不断提高,经济总量不断增大,综合国力显著提升,国家政策的支持扶助,我国企业加快了对外扩张的步伐,跨国并购事例逐年递增,并购金额越来越大,引起了学术界与实务界的强烈关注。机遇往往伴随着风险,并购的效果往往具有很大的不确定性,并不是所有跨国并购行为都能对企业绩效产生正影响。因此我们需要用科学有效的方法衡量企业并购前后的绩效,以此来判断企业并购是否功,也可以借此指导公司的并购行为,促进企业以较低成本高效地进行并购活动。本文共分为五部分:第一部分主要说明研究背景、研究意义与目的,国内外研究现状;第二部分主要阐述了跨国并购绩效的基本理论,企业跨国并购的目的、特点,跨国并购的绩效及其影响因素,重点阐述EVA法的含义、理论依据与方法,为后面部分奠定理论基础;第三部分主要介绍双汇跨国并购史密斯菲尔德的过程,并分析双汇跨国并购的背景、动因与特点;第四部分主要阐述基于EVA的双汇跨国并购绩效评价指标,并较详细系统的分析了双汇跨国并购前后的绩效、并购后产生的经济效果,以及影响并购绩效的因素;第五部分主要根据双汇跨国并购绩效的案例分析,以及从该案例得到的启示,针对性提出了提高企业跨国并购绩效的建议。
[Abstract]:Cross-border M & A is the product of the deep development of market economy. As a strategic decision in the process of enterprise development, it can help enterprises to achieve business diversification, business internationalization, and become an effective means to help enterprises develop by leaps and bounds. With the continuous improvement of the level of our country's economic development, the constant increase of the total economic volume, the remarkable improvement of the overall national strength, and the support and support of national policies, our enterprises have accelerated the pace of external expansion, and the cases of cross-border mergers and acquisitions have been increasing year by year. The increasing amount of M & A has aroused the strong concern of the academic and practical circles. Opportunities are often accompanied by risks, the effect of M & A is often uncertain, not all cross-border M & A can have a positive impact on corporate performance. Therefore, we need to use scientific and effective methods to measure the performance of enterprises before and after mergers and acquisitions, in order to judge whether mergers and acquisitions are successful or not, and to guide the M & A behavior of companies, and to promote enterprises to conduct M & A activities with lower cost and efficiency. This paper is divided into five parts: the first part mainly explains the research background, research significance and purpose, domestic and foreign research status; the second part mainly describes the basic theory of cross-border M & A performance, the purpose and characteristics of cross-border M & A. The performance of cross-border M & A and its influencing factors, especially the meaning, theoretical basis and method of EVA method, lay a theoretical foundation for the latter part. The third part mainly introduces the process of Shuanghui cross-border merger and acquisition of Smithfield. The fourth part mainly expounds the performance evaluation index of Shuanghui cross-border M & A based on EVA, and systematically analyzes the performance before and after Shuanghui cross-border M & A, and the economic effect after M & A. The fifth part mainly according to the case analysis of Shuanghui cross-border M & A performance, and the inspiration from the case, put forward suggestions to improve the performance of cross-border M & A.
【学位授予单位】：广东工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F271;F426.82

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