【摘要】 公司治理在理论上对并购绩效存在着积极的促进作用,但由于市场规范性的缺失,致使公司治理的功能受到抑制。基于我国A股旅游上市公司并购的公司治理数据,借助于多元回归分析方法,实证性的研究发现:董事会治理和经理层治理对并购绩效存在着正向的促进作用,监事会治理和社会监督对并购绩效缺乏促进功能,而信息披露对并购绩效的促进功能存在着不确定性。本研究结论为我国旅游上市公司并购的深化和完善提供了理论借鉴。更多还原

【Abstract】 Corporate governance in theory plays a positive role in promoting the performance of M&A, but because of the lack of normative market, the function of corporate governance is restrained. Based on the merger and acquisition data of China’s a-share corporate governance of listed company, and by means of multiple regression analysis method, empirical study finds that: the board governance and managers play a positive role in promoting the M&A performance, while the board of supervisors governance and social supervision are shorting of the promoting function to the M&A performance. and the promoting function of informative disclosure on M&A performance is uncertain. The conclusion of this study provides a theoretical reference for the deepening and perfect of merger and acquisition of China’s tourism listed company.更多还原