EVA And Merges & Recombination Of Medical Trade Listed Company's Empirical Research

Merges and acquisition is a kind of strategic choice and means for that enterprises to expand or shrink, and whether could combine and utilize the assets often determines an enterprise to rise and fall in nowadays world.After China join in WTO, the international medical enterprise giants rely on its rich fund, strong research and development strength and skillful transnational M&A skill to enter China successively. International competitive environment that the domestic medical trade faces is becoming more and more severe. In the kind of fluctuates pattern, medical trade enterprises of our country, especially listed company of medical trade, is becoming more frequent to merge and acquisition, hope can be able to centralized different high-quality resources under market condition, structure the key competitiveness, optimize the structure of stock right, assets, core business, realize the disposing of enterprise resources effectively and rationally, form company's advantage within the range of industry of company, try hard to produce the Chinese medicine enterprise aircraft carrier at the capital market through such means of rearrangement of assets as merger and acquisition, stock right transfer, peeling off assets and replacing, equity investment and sell, listed on the stock marketing, etc.First of all, the thesis, through summing up developing mileage, analyzing of the competitive environment of the medical trade of our country, have shown the train of industry development and severe competitive environment that medical trade of our country faces now.Secondly, to analyze through the financial current situation and overall perspectives of the development strategy of the present stage of medical trade listed company, find it's draw profit ability to glide unceasingly, achievement produce a polarization have become a predicament that listed company of our country face together, propose, because the development of medical enterprises is as backing with huge capital and advanced technology, this characteristic determines the development of medical enterprises can't only rely on inside managing type strategy, and must implement it for external trade type strategy which central as capital operating as a means of originally running, namely strategy of merges and recombination become the inevitable choice of medical trade listed company of our country.Moreover, the thesis probe into merges and recombination's reason, way, concerning foreign capitals affairs that appear recently in the present stage of medical trade listed company of our country. And to analyze merges and recombination phenomenon of the medical trade listed company of our country theoretically.Finally, take merges and recombination activities from year 2000 to 2001 of medical trade listed company of our country for the basis, with the management theory of the modern business strategy, theory of M&A and recombination as guidance, combine the development trend of the present medical trade and domestic medical trade rearrangement of assets of listed company, carry on the empirical research to motive, way, characteristic, result and market response of medical trade listed company, through adopting methods of classify and regression analysis, appraise the business performance of medical trade listed company with the Economic Value-added (EVA) , and examined the recombination performance of medical trade listed company, reach a dependence conclusion of recombination type , achievement change and the market reacts, hope to offer reference to medical trade enterprises merges and recombination of our country.