Comparison And Research On The Industrial Performance Of Mergers And Acquisitions By The Companies On Market In China

This thesis compares and analyses the industrial difference of mergers and acquisitions' performance in China. Combining the collecting, arranging, analyzing and calculating of the data that comes from 60 companies of 10 industries between 1998 and 2000 and the Accident Analysis and the Accountancy Analysis, several conclusions comes out on the basis of much reading. These conclusions will help companies, legislators and supervisors to realize the problem of how well mergers and acquisitions perform. Companies need to be aware of the problem and that mergers and acquisitions without value creation only lead to blind enlargement. Legislators and supervisors also need to understand whether mergers and acquisitions can bring the satisfactory performance and which industry can get the best result, which can help them to decide to encourage, limit or be indifferent to mergers and acquisitions. After a detailed analysis and careful calculation, the conclusion that mergers and acquisitions have a distinguish industrial difference can be made, especially manufacturing industry, housing industry and wholesale and retail industry have satisfactory performances. So the thesis analyses the reasons that make the industrial difference and supplies a serials of solution. They will help companies play the synergy effect fully and avoid the ineffective mergers and acquisitions created by arrogance and agency problem. They will help the legislators and supervisors to encourage and instruct the transactions of mergers and acquisitions and create a terrace for fair play. They will also help mergers and acquisitions to play an important role in the market economic system of socialism.