The Research Of M&A And Reconfiguration Of Public Companies In China

The securities market is the important site where the private saving is led to investment. It develops the important role in the development of China. However, from the naissance of securities market of China, it has had the mission to server for the reform of government facility. Administrative means resulted in the mint waste of the capital. Under this position, M&A of the public companies in China have made a great contribute to improve the function of the China securities market. But more and more problems of the M&A emerged. Base on statistics, there are 90 M&A cases in 2001. In these cases, there are 30 cases which have fatal matters. This thesis will aim at the problems of the M&A and the reconfiguration of the public companies in China to try to theoretically analyze the causes and the mechanism of them, and advance corresponding political advices.In the first section, It recommends the main concepts in this thesis, which including: merger, acquisition, M&A, and etc.In the second section, I will use the statistical information to show the complexion of the M&A and the reconfiguration of the public companies in China.In the third section, It expounds the further causes of the problems which happened in the M&A and the reconfiguration of the public companies in China.In the fourth section, I will propose my political advices which are based on front analysis including: A. Optimize the shareholder structure of the public companies; B. Optimize the administer structure of the public companies; C. Change government function; D. Optimize the market environment.At the end of the thesis, It is the main conclusion of the article: Problems of the M&A and the reconfiguration of the public companies in China are not caused to by one certain and specific causation, but are the inevitable result of our reform. We must advance our reform to resolve these problem.Which is brought to government by the M&A and the reconfiguration of the public companies in China is not only an opportunity but also a challenge. The government must face to the truth: The business system offered by market usually surpasses the polities. This is the subject which the thesis wants to express: The M&A and the reconfiguration of the public companies in China should be chosen by market.