并购是资本市场永恒的主题，是优化上市公司资源配置、实现经济结构调整和产业升级的一种常用手段。传统的并购绩效评价方法以单一的财务指标为基础，并不能真正反映并购的实际效果。根据并购的经典理论，并结合我国上市公司的实际情况，并购绩效评价应采用综合评价方法，评价角度应从战略、财务和社会三个层面进行。综合评价方法既能全面反映并购实际的和长期的效果，也能体现我国当前大多数企业的性质和所应承担的责任，这使得并购绩效评价更有针对性和方向性。%M＆A is the eternal theme of capital market of our country, and is a kind of common means of optimizing resource distribution, restructuring economic structure and upgrading industry of listed companies. The traditional approach of M＆A performance evaluation set a single financial indicators as foundation, which can not truly reflect the actual effect of mergers and acquisi- tions. According to classical M＆A theory, M＆A performance should be evaluated from the three aspects of strategy, finance and society. A method of comprehensive evaluation can more completely reflect the actual acquisition and long - term effects, and be able to reflect the nature of majority of enterprises and their responsibilities so as to make the M＆A performance e- valuation more clearly.
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