论文部分内容阅读
外资并购是引进外资的重要手段,它也正在成为我国利用外资的主要实现形式。为检验外资并购上市公司15年来的效果,并对外资并购政策进行评价,利用主成分分析法计算样本公司各期的综合绩效,比较发现外资并购后的两年内样本公司的绩效比并购前有所恶化,外资向样本公司输入的先进技术非常有限,先进管理经验的作用还远未得到充分发挥。为增进利用外资的效果,应进一步从引进外资的资格审查、并购后输入技术的专业级别评价以及输入技术级别与企业享受待遇紧密挂钩等方面补充和调整现有外资并购政策。
Foreign capital mergers and acquisitions are an important means of attracting foreign capital. It is also becoming the main form of foreign capital utilization in China. In order to test the effects of foreign capital mergers and acquisitions of listed companies over the past 15 years, and to evaluate foreign capital mergers and acquisitions policies, the principal component analysis method was used to calculate the overall performance of the sample companies in each period. It was found that the performance of the sample companies in the two years after foreign mergers and acquisitions was higher than that before the mergers and acquisitions. Deterioration, advanced technology imported by foreign companies into sample companies is very limited, and the role of advanced management experience is far from being fully realized. In order to increase the effectiveness of foreign capital utilization, the existing foreign capital mergers and acquisitions policies should be supplemented and adjusted in terms of the qualification review of foreign capital introduction, the professional level evaluation of input technology after mergers and acquisitions, and the close link between the input technology level and the benefits enjoyed by the company.