摘要
Abstract
In recent years, enterprise merger and acquisition (M&A) has occurred frequently in China's business activities.Therefore, what kind of consolidated accounting method should be adopted for M&A enterprises in China has become the focus of discussion and controversy in academic circles. China's CAS20 stipulates that the pooling of interest method shall be adopted for the cases of enterprise M&A under the common control, while the purchase method shall be used for the ones under the non-common control. In the world, the pooling of interest method has experienced the process from the starting to use to the prohibition to use, and then is allowed to be used for individual financial statements again. This article started with the pooling of interest method as the starting point, selected the listed companies in China which had M&A under the common control in 2014 as the research object, took 2013—2016 years' financial index as the sample, constructed the comprehensive score model of business performance, and carried out an empirical study on the performance of the years before and after the M&A's year under the common control. The results show that in the short term, there is significant improvement of the companies' performance in the year of M&A occurrence under the common control, and the enterprise performance is optimized from accounting point of view. However in the long run, the enterprise M&A under the common control does not bring substantial improvement to the enterprise performance and does not achieve the goal of long-term optimized performance.关键词
同一控制/企业合并/权益结合法/合并绩效/因子分析Key words
common control/business combination/involving enterprises/merger performance/factor analysis分类
管理科学
