关联并购

相关并购、非关联并购以及跨地区并购对企业国际竞争力的提升有积极作用。

Related 、 non-related transactions and trans-regional M A enhance the impact of M A of international competitiveness .

上市公司控制权制衡与关联并购的关系研究

Study on the Relationship of Corporate Control Balance and M & A with Related Party of Chinese Listed Companies

此外，关联并购并没有真正提高上市公司的财务绩效。

Last but not least , this study finds related party transactions do not help to improve listed companies ' financial performance .

第四章是本文的核心，对控股股东发动掏空型关联并购的动机及其影响因素进行了研究，并重点考虑了政府干预、国有性质的控股股东在其中的作用。

The motivation controlling shareholders launched M & A among related parties , the influence of the government intervention , and other related factors were discussed thoroughly in this chapter .

就关联并购而言，股权分置状态下，大股东倾向于实施掏空策略，而小股东则往往选择用脚投票策略。

In terms of connected M & A , the strong shareholder is inclined to adopt tunneling tactics in the situation of the split share structure , but the small shareholder will adopt the tactics of voting by feet .

横向关联方并购是我国上市公司并购中的一种重要的并购类型。

Merger with related party is an important merger type of listed companies'mergers in China .

结果表明，横向关联方并购的宣布对收购公司股东收益有较显著的正影响。

The results showed that the declaration of horizontal merger with related party had a significant positive influence to stockholders'returns of acquiring companies .

但从总体来看，关联方并购对企业的现金流量能力、偿债能力、发展能力和营运能力带来的正的效应。

Generally speaking , however , related M & A have positive effect on corporate cash flow capacity , liquidity , development capacity and operating ability .

本文采用事件研究方法分析了我国上市公司2000～2002年横向关联方并购的绩效。

We analyzed the performance of horizontal merger with related party of listed companies in China from the year 2000 to 2002 , using event study method .

本文以企业并购为视角，选取中国平安并购深圳发展银行为素材，重点介绍了并购关联各方的并购动因，详细阐述了并购过程，并对并购整合效果等方面进行了详细分析。

In this paper from the perspective of M A , we select Ping An merge with Shenzhen Development Bank as the material , mainly introduce the motivation of M A related parties , describes the process and effects of M A in detail .

非完整改造公司发生关联交易、关联并购重组的概率和程度都显著高于完整改造公司。

There is a higher probability and degree of related-party transaction and M & A happening among incompletely restructured SOEs .

虽然股权结构对资金占用、关联交易和关联并购重组产生显著的影响，但是这种影响很大程度也是源于改制模式的不同。

Though the ownership structure strongly affects fund embezzlement , related-party transaction and MA , this effect , in fact , has its roots in the restructuring mode . Fourthly , the difference in restructuring modes exerts great influence over the distribution of benefits .

从关联交易视角看，我国上市公司关联交易并购是成功的，而非关联交易并购并不成功。

From the perspective of related party transactions , mergers and acquisitions of listed companies with related transaction are successful , though mergers and acquisition without related party transaction are not successful .