论文部分内容阅读
上市公司的资产重组一直是证券市场的热点。据不完全统计,截至2004年年底,在深沪交易所1377家上市公司中,约46%的公司完成了不同方式、不同内容的资产重组,其中以控制权转移为特征的并购行为最为引人瞩目。从1994年的“棱光”事件开始,我国上市公司的并购经历了萌芽、数量型发展和趋向理性发展的三个阶段(张新,2003),其规模和数量逐年上升。每一起并购案的背后都有其特殊的背景和成因。
Asset restructuring of listed companies has always been a hot spot in the securities market. According to incomplete statistics, as of the end of 2004, about 46% of the 1,377 listed companies on the Shenzhen and Shanghai Stock Exchanges completed assets reorganization in different ways and with different contents. M & A behaviors featuring the transfer of control were the most attractive Spotlight. Starting from the “Prism” incident in 1994, the mergers and acquisitions of listed companies in our country have undergone three stages of sprout, quantitative development and rational development (Zhang Xin, 2003), and their size and quantity have been increasing year by year. Behind every merger has its own special background and causes.