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題名 | 購併效益評估之研究--以兩岸企業為例=A Study of the Mergers and Acquisitions Benefit Evaluation--The Cross-Strait Corporate as Example |
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作者 | 高麗萍; 簡蒂螢; 郭俞盈; 林旻葦; | 書刊名 | 致理學報 |
卷期 | 32 2012.11[民101.11] |
頁次 | 頁73-97 |
分類號 | 555.77 |
關鍵詞 | 購併; 績效評估; 平衡計分卡; Balanced scorecard; M & A; Benefit evaluation; Balanced scorecard; BSC; |
語文 | 中文(Chinese) |
中文摘要 | 全球購併熱潮在2000年時達到顛峰,2003年台灣通過企業購併法後,加速購併案成長。近年來大陸購併活動日趨活躍,根據聯合國貿易暨發展會議(United Nations Conference on Trade and Development, UNCTAD)在2006年的世界投資報告中指出,在全球開發國家中,大陸購併金額佔全球排名第二。究竟購併活動是否真能預期般為兩岸企業創造價值,一直是學者積極研究的課題。本研究以兩岸上市(櫃)公司為樣本,加入時間因素並以平衡計分卡觀點,分析企業購併前後在財務面、內部程序面、學習成長面,以及顧客面之績效表現是否產生顯著差異。本研究以多元化財務與非財務面績效衡量指標,以期能更廣泛評估購併活動對企業價值影響。實證結果顯示兩岸企業在購併前後財務面績效表現並無顯著差異,但在非財務面(如:內部程序及學習成長方面)等則會有顯著差異。 |
英文摘要 | Global Balanced Scorecard (M & A) boom reached its peak in 2000, in 2003 Taiwan after enterprise M & A law, acceleration purchase document growth. China’s acquisitions in recent years has become increasingly active, according to the United Nations Conference on Trade and Development Conference (UNCTAD) pointed out that, in the world's developed countries, the continent acquisitions accounted for the world's second(2006). Whether the M & A activity is really expected to create value for enterprises on the Cross-Strait have been the scholar’s active research topic. In this study, cross-strait market as samples, adding the time factor and the Balanced Scorecard perspectives, analysis of growth and learning perspective, as well as the performance of the customer face before and after the merger and acquisition in the financial, internal procedures face, whether a significant difference. In this study, a diversified financial and non-financial performance measures to be more extensive evaluation of M & A activity of the enterprise value. The empirical results show that enterprises on the Cross-Strait corporate Financial surface performance before and after the merger there was no significant difference, but there will be significant differences in the non-financial (such as: The internal procedure and the study growth aspect). |
本系統之摘要資訊系依該期刊論文摘要之資訊為主。