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公司治理觀點之企業併購理論

The Theory of Merger and Acquisition of Business: The Perspective of Corporate Governance

摘要


本文提出以公司治理觀點詮釋企業併購的新理論。理論模型證明,若主併公司之治理品質為較佳者,則併購案的最佳選擇為現金支付方式;相對的,若主併公司之治理品質較差,則最佳的選擇為換股支付方式。本文認為,公司治理在企業併購過程中,扮演著相當重要的角色。

關鍵字

公司治理 併購 支付方式

並列摘要


This paper presents a new theory of business merger and acquisition (M&A) under corporate governance perspective. The results show that if the quality of corporate governance of acquiring corporate is better, the optimal payment of acquisition is by cash; relatively, if the quality is worse, the optimal payment is by exchanging stocks. This paper believes that corporate governance plays an important role in the process of M&A.

被引用紀錄


江凱量(2015)。企業購併的關鍵因素探討-以台灣企業併購案為例〔碩士論文,國立清華大學〕。華藝線上圖書館。https://www.airitilibrary.com/Article/Detail?DocID=U0016-1908201515574030

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