A Study of Impact of Technology-oriented M&As on Firms Performance

摘要：

Technology-oriented M&A is a combination of connotation development with external growth, which receiving increasing attention from enterprises. Taking 185 technology-oriented M&As of Chinese listed companies ranging from 2002 to 2004, the empirical research shows that the acquiring firms performance of technology-captured M&As decrease in short-term, however, technology-upgraded M&As and technology- complemented M&As have prominent effect on the operating performance. And we also show that there is a significant impact of the non-traded shares proportion, ownership concentration, and retained earnings per share, firm size on firms performance.

关键词： firm technology-oriented M&A performance impact

作者: XU Chaoyang YANG Qing

作者单位: School of Finance and Economics, Wuhan Textile University, Wuhan, China. 430073

会议类型: 国际会议

会议名称: The 3rd (2011) International Conference on Financial Risk and Corporate Finance Management(第三届(2011)金融风险与公司金融国际研讨会FRCFM 2011)

会议地点: 大连

会议语种:英文

页码: 150-157

在线出版日期: 2011-06-30（万方平台首次上网日期，不代表论文的发表时间）