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财贸经济  2013 

会计准则趋同、海外并购与投资效率

, PP. 68-76

Keywords: 会计准则趋同,海外并购,投资效率

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Abstract:

本文以2001-2011年我国沪深两市A股上市公司为研究样本,从海外并购角度研究了会计准则趋同在跨国资本运营中的作用。我们基于会计准则趋同背景对我国上市公司海外并购数量和海外并购企业投资效率的影响,提出了相应的研究假设并进行了实证检验,结果表明,会计准则趋同后,我国上市公司海外并购数量表现出显著增加的趋势。对会计准则趋同前后,实施海外并购上市公司的投资效率的研究发现,会计准则趋同后,投资效率显著提高,而且这种总体投资效率的改善主要来自进行海外并购后过度投资程度的降低;而会计准则趋同前,投资效率则无显著变化。这表明,会计准则趋同对促进我国“走出去”战略的有效实施、改善进行海外并购公司的投资效率发挥了重要作用。

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