中国矿业大学学报（社会科学版）Issue(3)：66-73,8.
政府干预、煤企纵向一体化与并购绩效--基于社会责任观的经验证据
Government Intervention,Coal Enterprise Vertical Integration and M & A Performance:An Empirical Evidence Based on Social Responsibility Perspective
摘要
Abstract
Against the macroscopic background of the government introducing policies encouraging industry's merger and acquisition (M&A ),the present paper,based on building a vertical integration calculation model,constructs a system for evaluating coal enterprises'M & A performance from four aspects of economy,security,ecology and law.With the panel data,the paper makes an empiracal analysis of the influence of government intervention on vertical integration process and the M & A performance.The findings show that government intervention has the positive correlation with the degree of vertical integration in coal enterprises.The maj ority of coal enterprises emphasize economic and safety performance in vertical integration process while ignoring the environmental protection and legal performance.By analyzing the M&A characteristics of different properties,the authors also find that preference of"property rights"exists in government intervention and that with this intervention the M & A social performance of state-owned coal enterprises are superior to that of non-state-owned enterprises.关键词
政府干预/并购绩效/社会责任Key words
government intervention/merger & acquisition performance/social responsibility分类
管理科学引用本文复制引用
孙自愿,卫慧芳,梁庆平..政府干预、煤企纵向一体化与并购绩效--基于社会责任观的经验证据[J].中国矿业大学学报（社会科学版）,2014,(3):66-73,8.基金项目
国家社会科学基金项目(项目编号:12BGL044) （项目编号:12BGL044）
国家社科基金重大项目“我国矿产资源跨期优化配置机制研究”(项目编号:11&ZD163) （项目编号:11&ZD163）
中国博士后科学基金项目(项目编号:20110491491) （项目编号:20110491491）
教育部人文社会科学规划基金项目(项目编号:11YJA790137)。 （项目编号:11YJA790137）
