Empirical Analysis on Motives behind Acquisitions and Share Price Responses: Evidence from Acquisition in China''''s Securities Market
上市公司并购动机及股价反应的实证检验

Currently in China there are two main means to acquire listed companies: back-door listing and state-owned equity transfer. After verified by regression methodology, the motives behind back-door listing are to pursue inside trading. Furthermore, as far as share price response patterns are concerned, there is no significant difference between the two acquisition means after acquisition cases are studied by factor analysis.