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本文以2008-2010年50起A股上市公司的并购事件为样本,采用事件研究法对并购双方的财富效应进行了比较研究。研究结果表明,并购可以为收购公司股东带来显著财富增加,而对目标公司股东财富的影响不显著。
This article takes 50 M & A cases of A-share listed companies from 2008 to 2010 as a sample, and uses the event research method to compare the wealth effect of both M & A. The results show that mergers and acquisitions can bring significant wealth increase for the shareholders of the acquisition company, while the impact on the wealth of the shareholders of the target company is not significant.