本文選題：資源型企業(yè) + 海外并購�。� 參考：《哈爾濱商業(yè)大學(xué)》2017年碩士論文

【摘要】：隨著中國經(jīng)濟的全面開放和飛速發(fā)展,近年來,中國資源型企業(yè)的實力顯著增強,但其資源耗量巨大,導(dǎo)致非可再生資源日益減少;由于受經(jīng)濟全球化影響,世界范圍內(nèi)的資源價格大幅度下降。因此,越來越多的中國資源型企業(yè)通過海外并購的方式對國際能源、礦產(chǎn)資源進行重新分配,據(jù)此來提升全球競爭力,躋身全球產(chǎn)業(yè)價值鏈的頂端,現(xiàn)階段海外并購存在著極大的機遇和挑戰(zhàn)。因此,從國內(nèi)資源型企業(yè)的實際情況出發(fā),分析海外并購績效的相關(guān)理論,深入研究并購績效的影響因素,不僅能夠豐富中國資源型企業(yè)海外并購績效理論的研究成果,還有助于政府制定相應(yīng)的政策以及企業(yè)制定實施有關(guān)的海外并購策略,推動海外并購市場發(fā)展,促進中國經(jīng)濟轉(zhuǎn)型升級。通過大量查閱并購績效相關(guān)的國內(nèi)外參考文獻,對并購績效的相關(guān)理論有了較為全面的認知,基于此,利用海外并購績效的理論基礎(chǔ)對并購的動因進行闡述,分析了對績效的影響因素,這為實證的假設(shè)奠定基礎(chǔ),也為最后對政府和對企業(yè)的建議提供了理論支撐;選取樣本中的資源型企業(yè)并購案例進行因子分析可知,并購?fù)瓿芍蟮囊荒昕冃ЬC合得分較高,因此選取其作為被解釋變量。同時選取并購規(guī)模、對目標公司的控制程度和第一大股東持股比例三個因素作為自變量,通過因子分析及多元回歸分析法,從三個方面來研究對績效的影響,并證實了模型成立;根據(jù)實證研究結(jié)果從宏觀和微觀兩個層面出發(fā),提出有針對性的政策建議。
[Abstract]:With the full opening and rapid development of China's economy, in recent years, the strength of China's resource-based enterprises has increased significantly, but its huge consumption of resources has led to a decrease in non-renewable resources. Worldwide resource prices have fallen sharply. Therefore, more and more Chinese resource-based enterprises redistribute international energy and mineral resources through overseas mergers and acquisitions, so as to enhance global competitiveness and become the top of the global industrial value chain. At present, there are great opportunities and challenges in overseas M & A. Therefore, starting from the actual situation of domestic resource-based enterprises, analyzing the relevant theories of overseas M & A performance and deeply studying the influencing factors of M & A performance, it can not only enrich the research results of Chinese resource-based enterprises' overseas M & A performance theory. It is also helpful for the government to formulate corresponding policies and enterprises to formulate and implement relevant overseas M & A strategies, to promote the development of overseas M & A market and to promote China's economic transformation and upgrading. By consulting a large number of domestic and foreign references on M & A performance, the author has a relatively comprehensive understanding of the theory of M & A performance. Based on this, the motivation of M & A is explained by using the theoretical basis of overseas M & A performance. This paper analyzes the influencing factors on performance, which lays the foundation for the empirical hypothesis, and provides theoretical support for the final suggestions to the government and enterprises. One year after the completion of M & A, the comprehensive performance score is higher, so select it as the explanatory variable. At the same time, we select the M & A scale, the degree of control over the target company and the proportion of the largest shareholder as independent variables, through factor analysis and multiple regression analysis, from three aspects to study the impact on performance. According to the results of empirical research, this paper puts forward targeted policy recommendations from both macro and micro levels.
【學(xué)位授予單位】：哈爾濱商業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F271;F279.2

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本文編號：1877732