2012年企业并购外文翻译--企业并购中的管理绩效审计

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1、2300 英文 单词， 12400 英文字符，中文 3650 字 文献出处： Dobre F, Brad L, Ciobanu R, et al. Management Performance Audit in Mergers and Acquisitions J. Procedia Economics & Finance, 2012, 3(1):309-314. Management performance audit in mergers and acquisitions Florin Dobre, Laura Brad , Radu Ciobanu , Eugeniu Turlea ,

2、Florentin Caloian Abstract Several rapid changes had taken placed in companies involved in a M&A process, especially when managerial practices are encountered. Consequently, the management performance audit is an efficient analysed tool that quantifies how the economic resources were used by shareho

3、lders. While the number of M&A has increased constantly, expect the financial crisis period, not a proper documentation about the link between the M&A process and the managerial audit could be found. The aim of this paper is to examine if corporate takeovers lead to an increase in firm performance a

4、nd whether the company manager has an important role. By auditing the managers performance we can establish if he took the best decisions in order to increase the shareholders wealth and if he put their wilings into practice. The managers performance can be measured either by quantitative or by qual

5、itative variables. Our study aims to establish if there is a post-takeover long-term performance for the companies supposed to a merger and acquisition process. The results indicate an improvement of financial indicators, as the impact of managerial audit performance cannot be denied. Keywords: take

6、over, Management performance audit, Acquisitions, Accounting, firm performance 1. Introduction Recent studies try to find out if acquisitions and takeovers provide real benefits for the target firms. As a fact, this research points out if acquisitions and takeovers can improve a company performance and, if the managers have something to do with the performance incensement or if the increased post-takeover performance is only due to its correlation to the market. Secondly, the key determi