中国企业跨国并购财务绩效研究.doc

中国企业跨国并购财务绩效研究经济学院财务管理（双学位）苏某某指导老师赵某【摘要】伴随着经济全球化和改革开放的深入，越来越多的企业把目光着眼于海外市场，开始了企业跨国并购的历程。然而，目前中国企业对跨国并购的理解、参与程度还远远不够，企业对国际化战略的选择也缺乏充分的准备,因此对于研究中国企业跨国并购具有重要性和必要性。本文主要采用了事件研究法、财务指标法、案例分析法分析了中国企业跨国并购财务绩效并通过TCL集团跨国并购案例进一步分析影响、制约企业跨国并购发展的因素，最后针对存在制约的因素提出相应的对策和建议。【关键词】中国企业跨国并购财务绩效TheAnalysisofChineseEnterprisesTransnationalMergerFinancialPerformanceCollegeofeconomicsMajorinFinancialManagementSuSupervisorZhao【Abstract】Withthedevelopmentofeconomicglobalizationandreformandopening-up,moreandmoreenterprisespaymuchattentiontotheoutsidemarket,whichmadethembeginthejourneyofCross-borderMergersandAcquisition.However,thecomprehensionandparticipationofChineseenterprisesintheCross-borderMergersisnotcorrectlyenough.What’smore,lotsofenterpriseslackasufficiencypreparationtothechoiceofinternationalstrategic.Asaresult,itisimportantandnecessaryforustostudyCross-borderMergersandAcquisition.Thepaperfocusontheevent-studymethodology,financialindexmethodandindividualcasesanalysistoresearchfinancialperformance，meanwhile,wemakefurtherinvestigationsofthemainfactorswhichaffectChineseenterprises’financialperformancebymeansofanalyzingthecaseofTCLcompany.Atlast,weputforwardsomeusefulsuggestionsaccordingtotherestrictmattersofChineseenterprisesintheCross-borderMergers.【keywords】ChineseenterprisesCross-borderMergersandAcquisitionfinancialperformance目录HYPERLINK\l_Toc17218_WPSOffice_Level1一、概述3HYPERLINK\l_Toc13426_WPSOffice_Level2（一）并购的概念3HYPERLINK\l_Toc22923_WPSOffice_Level2（二）跨国并购理论3HYPERLINK\l_Toc8307_WPSOffice_Level2（三）跨国并购财务绩效3HYPERLINK\l_Toc2199_WPSOffice_Level1二、中国企业跨国并购现状及财务绩效影响因素分析4HYPERLINK\l_Toc15174_WPSOffice_Level2（一）中国企业跨国并购发展现状4HYPERLINK\l_Toc15579_WPSOffice_Level2（二）跨国并购财务绩效影响因素分析4HYPERLI