| 我国医药行业上市公司并购绩效的实证研究 |
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| 引用本文： | 邱岚,卞鹰,王一涛.我国医药行业上市公司并购绩效的实证研究[J].中国药房,2006,17(19):1448-1451. |
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| 作者姓名： | 邱岚 卞鹰 王一涛 |
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| 作者单位： | 1. 澳门大学中华医药研究所,澳门特别行政区,999078;北京师范大学珠海分校商学院,珠海市,519085
2. 澳门大学中华医药研究所,澳门特别行政区,999078 |
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| 摘 要： | 目的评价2000年~2002年3年间我国医药行业上市公司现金并购行为及影响。方法以考察并购方公司的财务数据为基础,通过主成分分析和因子分析,建立评价公司并购绩效的得分体系,从而对并购前后几年的绩效变化进行比较。结果绩效得分在并购后存在大幅波动,最终回复至并购前水平。结论现金并购没有给医药行业整体带来正的长期收益。
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| 关 键 词： | 医药行业 上市公司 并购 绩效 |
| 文章编号： | 1001-0408(2006)19-1448-04 |
| 收稿时间： | 03 14 2006 12:00AM |
| 修稿时间： | 04 11 2006 12:00AM |
Performance of Listed Companies after Merger & Acquisition in Medical Industry |
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| QIU Lan,BIAN Ying,WANG Yitao.Performance of Listed Companies after Merger & Acquisition in Medical Industry[J].China Pharmacy,2006,17(19):1448-1451. |
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| Authors: | QIU Lan BIAN Ying WANG Yitao |
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| Institution: | 1Chinese Institute of Pharmaceutical Research, Macao University, Macao Special Administrative Zone 999028, China;2Business School of Beijing Normal University Zhuhai Campus,Zhuhai 519085,China |
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| Abstract: | OBJECTIVE:To evaluate the subsequent performance after the merger & acquisition (M&A) in the form of cash in medical industry during 3 years from 2000 to 2002.METHODS:Base on the financial data of the merging party and by means of principal component analysis and factor analysis,a scoring system was built for the evaluation of the performance of M&A so that the comparison of effect scores before and after M&A could be realized.RESULTS:The effect scores fluctuate dramatically after M&A,but finally reverted to the initial level before M&A.CONCLUSION:M&A in the form of cash failed to bring long-term profits to the entire medical industry. |
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| Keywords: | Medical industry Listed companies Merger & acquisition Performance |
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