随着资产剥离在公司经营中的广泛运用，越来越多的人关注资产剥离绩效。为研究资产剥离的绩效．本文选取2004-2007年间179个我国上市公司资产剥离事件为样本，选用资产负债率、流动比率、每股收益等10个财务指标构建资产剥离绩效评价指标体系，运用因子分析法计算剥离前两年到后三年共六年的综合得分，并用Wilcoxon法对绩效变化进行检验。研究结果表明资产剥离能够显著改善上市公司的经营业绩。但需要有一个逐步调整和整合的过程。%With corporate divestiture widely used, more and more people pay attention to the performance of corporate divestiture. To study the performance of corporate divestiture, this paper took 179 divestiture events in the period of 2004-2007 of Chinese List- ed companies as a sample, selected 10 financial indexes such as asset-liability ratio, current ratio, and earnings per share to build an evaluation index system of the performance of divestiture, and then used factor analysis method to calculate the comprehensive score of the previous two years to three years after the divestiture, and last used Wilcoxon to test the change of performance. The re- suits show that the divestiture can significantly improve the performance of listed companies, but it needs a gradual process of re- structuring and integration.
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