基于事件研究法的顺丰控股连续并购市场效应研究  

Research on the Market Effect of SF Holding's Continuous M&A Based on Event Study Method

作　　者：张迪 乔玉洋[1] ZHANG Di;QIAO Yuyang(School of Economics and Management,Nanjing Forestry University,Nanjing 210037,China)

机构地区：[1]南京林业大学经济管理学院,江苏南京210037

出　　处：《物流科技》2022年第5期53-55,71,共4页Logistics Sci-Tech

摘　　要：以顺丰控股为对象,采用事件研究法对2018年内连续的三次并购活动从市场绩效的角度进行分析。从实证结果看,顺丰控股并购新邦物流和德国敦豪的市场反应较为良好,投资者对于这两次并购活动较为认同,从而为股东带来了财富。基于此,文章对于顺丰控股连续并购总结出了两点启示,分别是并购战略紧随企业战略和重视并购后的整合。Taking SF Holding as the object,this paper adopts the event study method to analyze the three consecutive M&A activities in 2018 from the perspective of market performance.According to the empirical results,SF Holding's acquisition of Xinbang logistics and DHL received a good market response,and investors recognized these two M&A activities,thus bringing wealth to shareholders.Based on this,this paper summarizes two inspirations for SF Holding's continuous M&A,namely,the M&A strategy follows the enterprise strategy and attaches importance to the integration after M&A.

关 键 词：顺丰控股 市场绩效 事件研究法 

分 类 号：F273.7[经济管理—企业管理]