The Empirical Study And Countermeasure On The Performance Of Chinese Listed Company M&A

As a"willing and compensated-needed"model of capital uses, M&A has affected on social economy and the companies themselves.M&A not only adjust the Structure of macroeconomy, optimize the resources distribution,but also renew the product,restructure the enterprise, upgrade the industry,innovate technology and form the core competitive abilities of the firm. Meanwhile, Mergers and Acquisitions(M&A), being effective economic instruments to optimize the allocation of resources, improve economic efficiency and achieve economies of scale, has extensively been accepted by company policymakers. However, with the influences of system,history and enterprise themselves, M&A which developed fast in China, faced a lot of difficult also.And the results are undefined.Therefore, It is urgent for us to analysis those issues and the contradictions of M&A of China, and look for the feasible way of M&A which improves the achievement of M&A actions and makes our social economy developing constantly, healthy and stably.Based on the date of listed companies, by analyzing factors and building up mathematic model, It made comparison of the inclination of change of the listed company's purpose before and after M&A and basically concluded that different M&A lead to different result. Then, It analyzed profoundly the key reasons that affected the M&A. Subsequently, it put forward special suggestions and countermeasures to improve the performance of M&A actions, firstly, concentrate on integrating, including the development strategy integrating, the human resources being integrating, corporate culture integrating, the business finance and assets integrating, organization integrating; secondly, build-up and improve enterprise M&A guarantee system, norm manage director behavior, enrich financing implement and perfect the law and regulation environment.