發(fā)布時間：2018-05-17 20:10

  本文選題：并購 + 事件分析法　； 參考：《深圳大學(xué)》2017年碩士論文

【摘要】：并購戰(zhàn)略是航空公司發(fā)展和實現(xiàn)橫向擴張縱向推廣戰(zhàn)略的重要途徑和手段。根據(jù)國際經(jīng)驗,世界大型航空公司實現(xiàn)橫向擴張的增長過程,基本上都離不開并購的進行。本文主要對東航通過換股吸收合并方式并購上航這一案例進行了理論分析和案例分析。文章首先介紹選題背景和意義,然后介紹并購的相關(guān)概念和文獻。在案例分析部分,本文以東航換股吸收合并上海航空的案例為例。首先,闡述東航的并購協(xié)議,對其并購的動因進行分析,然后對東航并購上航所帶來的財務(wù)績效展開具體的分析。分別采用以下幾種方法:采用事件分析法分析并購帶來的短期效益;采用會計指標法分析東方航空的財務(wù)指標;采用杜邦分析法東方航空分析財務(wù)狀況和幾個財務(wù)比率之間的關(guān)系;采用Z指數(shù)分析法分析并購前后財務(wù)危機的變化情況。最后還從規(guī)模效應(yīng)、協(xié)同效應(yīng)這兩方面來分析并購是如何影響東航的財務(wù)績效的。最后,本文通過分析東航并購上航過程中可能存在的風(fēng)險,結(jié)合目前民航企業(yè)的并購現(xiàn)狀,提出對于民航企業(yè)的結(jié)論和啟示。
[Abstract]:M & A strategy is an important way and means for airlines to develop and realize horizontal expansion and vertical promotion strategy. According to international experience, the growth process of the world's large airlines to achieve horizontal expansion is basically inseparable from mergers and acquisitions. This paper makes a theoretical analysis and case study on the case of China Eastern Airlines M & A by means of stock exchange and merger. This paper first introduces the background and significance of the topic, and then introduces the related concepts and literature of M & A. In the case analysis part, this paper takes the case of China Eastern Airlines' absorption and merger of Shanghai Airlines as an example. Firstly, this paper expounds China Eastern Airlines' merger and acquisition agreement, analyzes the reasons of its merger and acquisition, and then analyzes the financial performance brought by China Eastern Airlines' merger and acquisition of Shanghai Airlines. The following methods are adopted: the short-term benefits of M & A are analyzed by event analysis method, the financial index of China Eastern Airlines is analyzed by accounting index method, and the financial index of China Eastern Airlines is analyzed by the method of accounting index. DuPont analysis method is used to analyze the relationship between financial situation and several financial ratios, and Z index analysis method is used to analyze the changes of financial crisis before and after merger and acquisition. Finally, the paper analyzes how M & A affects the financial performance of China Eastern Airlines from the aspects of scale effect and synergy effect. Finally, by analyzing the possible risks in the process of China Eastern Airlines' merger and acquisition of Shanghai Airlines, combined with the current situation of civil aviation enterprises' merger and acquisition, this paper puts forward the conclusion and inspiration for civil aviation enterprises.
【學(xué)位授予單位】：深圳大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F562.6;F271;F560.5

【參考文獻】

相關(guān)期刊論文 前1條

1 劉鍇;;企業(yè)并購績效評價方法的分類探討[J];江蘇商論;2009年01期

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本文編號：1902690