摘 要
本研究旨在深入探讨股权集中度与企业并购行为之间的关联性。基于当前市场经济环境下企业并购活动日益频繁的背景，本研究通过理论分析与实证检验相结合的方式，系统剖析了股权集中度对企业并购决策及并购绩效的影响机制。研究采用定量分析方法，以中国A股市场上市公司为研究对象，运用多元回归模型对股权集中度与并购行为的关系进行了实证分析。结果表明，股权集中度对企业并购频率和并购规模具有显著影响，高度集中的股权结构往往导致更为积极的并购策略。同时，适度的股权集中有助于提升并购后的企业绩效，而过度的股权集中则可能损害并购效果。本研究不仅丰富了股权结构与企业行为关系的理论内涵，而且为企业优化股权结构、提高并购决策效率提供了有益的参考。
关键词：股权集中度 企业并购 影响机制
Abstract
This study aims to deeply explore the correlation between equity concentration and enterprise merger and acquisition behavior. Based on the background of increasingly frequent merger and acquisition activities in the current market economy environment, this study systematically analyzes the influence mechanism of equity concentration on merger and acquisition decisions and performance through the combination of theoretical analysis and empirical test. Using the quantitative analysis method and the listed companies in China's A-share market, the relationship between equity concentration and merger behavior is analyzed effectively. The results show that the equity concentration has a significant impact on the acquisition frequency and acquisition scale of enterprises, and the highly concentrated equity structure often leads to more active M & A strategies. At the same time, moderate equity concentration helps to improve the enterprise performance after merger and acquisition, while excessive equity concentration may damage the effect of merger and acquisition. This study not only enriches the theoretical connotation of the relationship between the ownership structure and enterprise behavior, but also provides a useful reference for enterprises to optimize the ownership structure and improve the efficiency of M & A decision-making.
Keyword:Equity concentration merger and acquisition influencing mechanism
目 录
1绪论 1
1.1研究背景和意义 1
1.2 研究现状 1
1.3 研究方法 1
2股权集中度对企业并购决策的影响 2
2.1股权集中度与并购决策的理论基础 2
2.2 股权集中度对并购频率的影响 2
2.3 股权集中度对并购类型选择的影响 2
2.4 股权集中度与并购决策过程的实证分析 3
3股权集中度对企业并购绩效的影响 3
3.1并购绩效的评价指标体系 3
3.2 股权集中度与并购后短期绩效的关系 4
3.3 股权集中度与并购后长期绩效的关系 4
3.4 股权集中度对并购协同效应的影响 5
4股权集中度与企业并购风险 5
4.1并购风险的定义与分类 5
4.2 股权集中度对并购整合风险的影响 6
4.3 股权集中度与并购中的财务风险 6
4.4 股权集中度对并购后经营风险的影响 7
5结论 7
参考文献 9
致谢 10
本研究旨在深入探讨股权集中度与企业并购行为之间的关联性。基于当前市场经济环境下企业并购活动日益频繁的背景，本研究通过理论分析与实证检验相结合的方式，系统剖析了股权集中度对企业并购决策及并购绩效的影响机制。研究采用定量分析方法，以中国A股市场上市公司为研究对象，运用多元回归模型对股权集中度与并购行为的关系进行了实证分析。结果表明，股权集中度对企业并购频率和并购规模具有显著影响，高度集中的股权结构往往导致更为积极的并购策略。同时，适度的股权集中有助于提升并购后的企业绩效，而过度的股权集中则可能损害并购效果。本研究不仅丰富了股权结构与企业行为关系的理论内涵，而且为企业优化股权结构、提高并购决策效率提供了有益的参考。
关键词：股权集中度 企业并购 影响机制
Abstract
This study aims to deeply explore the correlation between equity concentration and enterprise merger and acquisition behavior. Based on the background of increasingly frequent merger and acquisition activities in the current market economy environment, this study systematically analyzes the influence mechanism of equity concentration on merger and acquisition decisions and performance through the combination of theoretical analysis and empirical test. Using the quantitative analysis method and the listed companies in China's A-share market, the relationship between equity concentration and merger behavior is analyzed effectively. The results show that the equity concentration has a significant impact on the acquisition frequency and acquisition scale of enterprises, and the highly concentrated equity structure often leads to more active M & A strategies. At the same time, moderate equity concentration helps to improve the enterprise performance after merger and acquisition, while excessive equity concentration may damage the effect of merger and acquisition. This study not only enriches the theoretical connotation of the relationship between the ownership structure and enterprise behavior, but also provides a useful reference for enterprises to optimize the ownership structure and improve the efficiency of M & A decision-making.
Keyword:Equity concentration merger and acquisition influencing mechanism
目 录
1绪论 1
1.1研究背景和意义 1
1.2 研究现状 1
1.3 研究方法 1
2股权集中度对企业并购决策的影响 2
2.1股权集中度与并购决策的理论基础 2
2.2 股权集中度对并购频率的影响 2
2.3 股权集中度对并购类型选择的影响 2
2.4 股权集中度与并购决策过程的实证分析 3
3股权集中度对企业并购绩效的影响 3
3.1并购绩效的评价指标体系 3
3.2 股权集中度与并购后短期绩效的关系 4
3.3 股权集中度与并购后长期绩效的关系 4
3.4 股权集中度对并购协同效应的影响 5
4股权集中度与企业并购风险 5
4.1并购风险的定义与分类 5
4.2 股权集中度对并购整合风险的影响 6
4.3 股权集中度与并购中的财务风险 6
4.4 股权集中度对并购后经营风险的影响 7
5结论 7
参考文献 9
致谢 10
