航空行业横向并购案例的绩效分析——基于东方航空并购上海航空的财务分析

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1、-------studiedwiththecaseofmergerandacquisitionofShanghaiAirlinesbyChinaEasternAirlinesTheresultsobtainedfromfinancialanalysisshowthatthemergingofChinaEasternAirlinesandShanghaiAirlinesissuccessful,nomatterseeingfromtheanalysisresultsofshort-termperformancesorlong

2、-termperformances,thewholeprofitability,operationability,developmentabilityandabilityofcreatingcashflowareallimprovedobviously,thestructureofassetsandliabilitiesisimproved,thesynergisticeffectofindustrialintegrationisgivenplaytoandthecompetitiveadvantageisstrength

3、ened.TheshortcomingisthattheutilizationefficiencyofChinaEasternAirlinesonobtainedgoodresourcesandrapidincreasingnetassetaftermergerandacquisitionislow,anditsmanagementlevelofintegratingresourcesandimprovingefficiencystillneedstobeimproved.KEYWORDS:HorizontalMerger

4、andAcquisition,MergerandAcquisitionPerformances;EventStudyMethod;FinancialIndexAnalysisMethod,SynergisticEffect-----------万方数据-----------上海交通大学MPAcc论文目录目录前言............................................................................................................

5、.................................................1第一章并购相关理论概述.......................................................................................................................21.1兼并与收购的概念........................................................................

6、......................................................21.1.1公司兼并...........................................................................................................................................21.1.2公司收购...................................................

7、........................................................................................21.2国外关于兼并与收购的研究理论......................................................................................................31.2.1效率理论..............................................

8、.............................................................................................31.2.2基于委托——代理角度的兼并和收购理论...................................