并购市场市场化进程的测度研究

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1、北京交通大学硕士学位论文并购市场市场化进程的测度研究姓名：施贤达申请学位级别：硕士专业：会计学指导教师：崔永梅20080601ABSTRACTABSTRACT：Sincelate19thcentury,therewerefive西obalmergerwavesinhistory．Althoughthefifthwaveofmergersandacquisitionsrisesincefrom1992，beingtoslowdownfortheeconomicrecession，theglobalvolumeoftransactionsstillmaintaint

2、hescaleofnearly1trillionU．S．dollarseveryyear．Inthisprocess，thedevelopmentlevelofeachcountry‘Smergermarketisdifferent．Researchonthedevelopmentofmergermarket，hasimportantsignificancetothemergermarketinChina．Previousresearchhasstudiedthehistoryanddevelopmentofmergermarketfromdifferentpe

3、rspectivebuthasn’tcometoconsensus．Startingfromthefourfactors．Macroeconomic，Industry,Financialmarket，lawandCulture—thisdissertationisattemptedtoresearchtheevolutionmechanismsofmergermarketthroughtheperspectiveofevolutioneconomics，analyzetheprocessofevolution，andconstructanindexsystemo

4、nestimatingthemarketizationofmergermarkettobringimplicationstothedevelopmentofthemergermarket．ThepaperfirstscanstheLevelstructureofmergermarketinwaysofevolutioneconomics，onthebasisofanalyzingmainplayersandenvironment，givestheexplanationofthesethreemechanismsofmergermarket，whichinvolv

5、esvariety，selectionandreplication，thenconfirmthefunctionsofthesefactorsintheprocessofmarketization．Secondly,underthebackgroundofevolutionaryeconomics，thisdissertationexploresthemeaningofthemarketizationindex，whichisusedtodescribethedegreeofmarketization，focusesonmacroeconomic，industr

6、y，financialmarket，institutionalfactor,theinternalcharacteristicsofthemergermarket．Thenanindexsystemonestimatingthemarketizationofmergermarkethasbeenestablishedthroughreferringthemethodsofestimatingthemarketizationindexofeconomydomesticallyandoversea．Thismethodincludes5first—factor,11

7、second—orderindicators(quantityindicators)．ThemarketizationprocessofmergermarketCanbeevaluatedthroughthequantitativemethod．WeanalysisthelevelofmergermarketinUSA，UKJapan，Germanythroughthisestimatingsystemintheend．KEYWORDS：MergerMarket：EvolutionaryEconomics：NaturalSelection；Marketizati

8、onCLASSN0：F2