Empirical Research On The Performance Of Mergers And Acquisitions Of China's Listed Companies

Since the mid-1990s, the fifth wave of merger and acquisition sweeping the globe, the mergers and acquisitions emerge one after another incessantly, mergers and acquisitions of our country has also been rapid development. Mergers and acquisitions is an important way of enterprise resources disposition; it is also the important means of the industrial structure transformation for enterprises, and of entering the new industries and markets. In addition to their accumulation, mergers and acquisitions is a lower-cost and more effective ways for the enterprise to grow and expanse. However, compared to western countries, mergers and acquisitions of china's listed companies are still relatively small-scale and have a lack of maturity and normative in operation. Immature capital markets and inadequate legal policy also have impacts on the mergers and acquisitions. But, Domestic and foreign scholars have not concluded an agreement on the performance of mergers and acquisitions so far. So, it is a certain practical significant to research the performance of china's listed companies' mergers and acquisitions in the condition of accelerated internationalization and increasingly competition. Theretofore, this article wants to build a performance evaluation system for mergers and acquisitions of listed companies that in the theoretical analysis foundation, then analyzes the factors affecting the performance of listed companies' mergers and acquisitions, propose approaches to improve the performance of mergers and acquisitions of china's listed companies.The paper is based on research ideas, such as theory, empirical testing, and countermeasure suggestions. First introduced to the basic concepts of mergers and acquisitions, and summarized the domestic and foreign scholars' theoretical achievements on the performance of mergers and acquisitions as...