Analysis On Financial Effects Of Listed Companies' Mergers And Acquisitions

With the gradual establishment of china ' s market economy and the perfection of capital market, Mergers and Acquisitions have become the important means of enterprises capital operation. Since the first Mergers and Acquisitions case of our stock market in 1993, the amount of listed caapsfiies Mergers and Acquisitions cases has been increasing and its scale has been expanding very fast. The Mergers and Acquisitions development of listed companies makes us think deeply about the causes and effects of Mergers and Acquisitions, especially its long-term influence . This article analyzes the changing trend of main financial indicators of listed companies after Mergers and Acquisitions from the view of the financial effects. At the same time, the author uses two independent samples to compare the financial indicators of Mergers and Acquisitions listed companies with those of other companies by "t inspection" . The results show that the financial effects of Mergers and Acquisitions listed companies decline faster than those of others. On the basis, the paper discusses the causes that influence the financial effects of Mergers and Acquisitions listed companies and offers some policy suggestion.