汽车零部件企业并购绩效分析——以福耀集团为例

发布时间：2017-12-30 18:46

  本文关键词：汽车零部件企业并购绩效分析——以福耀集团为例　出处：《系统工程理论与实践》2017年04期 　论文类型：期刊论文

  更多相关文章： 并购 事件分析法 因子分析法 汽车零部件企业

【摘要】：近年来随着中国经济的高速发展,我国整车销量不断上升,汽车零部件行业发展势头良好,但是目前我国汽车零部件行业主要占据中低端市场.为此许多汽车零部件企业积极寻求并购机会,希望通过并购快速提高自身的技术实力.本文以全球规模最大的汽车零部件供应商福耀集团为研究对象,首先运用事件分析法和基于因子分析的财务指标分析法从股价、财务绩效等多个维度分析了福耀集团三次典型的并购事件对其短期和中长期绩效的影响;其次结合Bai-Perron断点检验分析并购事件对于企业主要财务指标的影响·实证结果显示该企业三次典型并购事件均对企业绩效产生了正向的影响.
[Abstract]:In recent years, with the rapid development of China's economy, the sales volume of the whole car in China has been rising, and the auto parts industry has a good development momentum. But at present, the auto parts industry in our country mainly occupies the middle and low end market. Therefore, many auto parts enterprises actively seek M & A opportunities. Hope to quickly improve their technical strength through mergers and acquisitions. This paper takes Fuyao Group, the world's largest auto parts supplier, as the research object. Firstly, the influence of three typical M & A events of Fuyao Group on short-term and medium- and long-term performance is analyzed from the aspects of stock price and financial performance by means of event analysis and financial index analysis based on factor analysis. Secondly, combined with the Bai-Perron breakpoint test, this paper analyzes the impact of M & A events on the main financial indicators of the enterprise. The empirical results show that the three typical M & A events have a positive impact on corporate performance.
【作者单位】： 北京联合大学管理学院;中国科学院数学与系统科学研究院;
【基金】：国家自然科学基金(71390330,71390331)~~
【分类号】：F271;F406.7;F426.471
【正文快照】： i引言2015年中国汽车保有量达到1.72亿辆,新注册登记的汽车数量和汽车年增量均达到历史最高水平,汽车驾驶人超过2.8亿人.随着中国经济的不断发展,为我国汽车及汽车零部件行业的蓬勃发展注入了动力.虽然我国汽车零部件行业发展较快,但是仍旧主要占据中低端市场,技术水平与国外，

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