“两材”合并动因及效应研究  

Study on the Causes and Effects of the Combination of “Two Materials”

作　　者：孙喜平[1] 陈颖 Sun Xiping;Chen Ying(School of Accounting, Hubei University of Economics, Wuhan 430205, China)

机构地区：[1]湖北经济学院会计学院

出　　处：《江苏商论》2019年第8期109-111,共3页Jiangsu Commercial Forum

摘　　要：在加快供给侧结构性改革,推进“三去一降一补”的背景下,央企合并具有重要的现实意义。本文以“两材”合并案为研究对象,深入剖析合并的动因及效应。结论表明,“两材”合并主要基于产业结构调整的需要、适应经济全球化发展的需要和国有企业承担社会责任的需要。合并之后,中国建材集团的技术创新能力增强;环境责任履行绩效上升;负债比率下降,财务稳定性有所增强;盈利能力大幅度上升;资产利用效率下降,去产能压力增大。为强化合并效应,应进一步降低财务杠杆,将去产量和去产能有机结合,使去产能落到实处。Under the background of speeding up the structural reform of the supply side and promoting the “three to one, one reduction and one supplement”, the merger of central enterprises has important practical significance. This paper takes the “two materials” merger as the research object, and deeply analyzes the motivations and effects of the merger. The conclusion shows that the merger of “two materials” is mainly based on the needs of industrial restructuring, adapting to the needs of economic globalization and the need for state-owned enterprises to undertake social responsibilities. After the merger, China Building Materials Group's technological innovation capability is enhanced;environmental responsibility performance is rising;The debt ratio has decreased, financial stability has increased;profitability has risen sharply;asset utilization efficiency has declined, and capacity pressure has increased. In order to strengthen the merger effect, the financial leverage should be further reduced, and the combination of production and de-capacity should be organically combined to enable the de-capacity to be implemented.

关 键 词：企业合并 合并动因 合并效应 

分 类 号：F40[经济管理—产业经济]