碩士 / 國立政治大學 / 財務管理學系 / 107 / This study investigates the impact of The Belt and Road Initiative on Chinese companies' cross border M&A decisions and post-acquisition performance. We find that after the implementation of the policy, the proportion of cross border mergers and acquisitions by Chinese companies along the Belt and Road countries has increased, but it is not significant. However, The Belt and Road Initiative has increased the probability of target companies in the Belt and Road countries. And the transaction value also rose significantly, so policy implementation still achieved the government's objectives. After the implementation of the policy, the market reaction to the companies in key industries merged or acquired targets in the Belt and Road countries are negative. But the long-term performance showed these kinds of deals have not destroyed the shareholders' value. Companies follow government policies may create value. Finally, state-owned enterprises or private enterprises have little difference in each aspect.
| Identifer | oai:union.ndltd.org:TW/107NCCU5305029 |
| Date | January 2019 |
| Creators | Fang, Yi-Jan, 方翊展 |
| Contributors | Chen, Yenn-Ru, 陳嬿如 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 42 |
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