The Study On Effect And Practice Of M&A In Public Corporation Based On Our Investment Bank

M&A is a kind of long economic appearance with the economy growth. It is the certain sequence of industrial development and the project competence. It is also the external request of bettering resources during the course of the economic development. As a important strategy of capital management,M&A makes a great effects on the project expansion. Jorge.J.Stingero,having made the Noble prize,said that not any American big company had not developed through some kind or some degree of merger,and that nearly there is no one big company development depending on its internal expansion. At present,our economy is under the circumstance of new market economy during the transformation of global economy. It decided that M&A makes the more important sense and value. In our country,M&A is mainly contributed by the two privy through the negotiation. But in the western developed countries,M&A medium organization must take active part in the formed M&A market. From the practice of the M&A history,most were succeeded by it-investment bank. As one of the great effects on capital market,investment bank takes part in merger by all means. So the public corporation merger management,practiced in this year-end,pronounced medium organization,the non-missing importance during the public corporation merger from the legislation. Lately Mrs. Smelen pointed out that the performing status of the medium organization could directly effect on the cost and weight of M&A,even effected on the success and failure. On the basis of the normal merger theory,invoking the trade fee theory and the match theory,this article analyses the reasonable logic of the investment bank involving in the merger. The article points out the condition and the specific role in it. At last,the article formed points that the investment bank involving in the merger is the premise condition of settling too many executive intervention and efficiency subjacent. It is also the demand of our investment bank expanding practice range,rising competence and dealing with the future international competent and the available method of improving our economic structure and establishing the market economy. At last,it presents the specific policy suggestion.