China Listed Company Merger And The Effects Of Research

Since 1990s, with the quickening of the process of global economy integration and emergence of new economy, it is more and more fiery that worldwide Merger and Acquisition (M&A).In the fierce market competition, enterprises only develop constantly, so that they can capture the place in the competition. M&A can not only strengthen enterprises rapidly, but also can promote the key competitive power of enterprises, expand the occupation rate of market. The listed company is the most active particularly in M&A. Researching M&A, especially researching M&A of the Chinese listed company, not only has important theory meanings, but also has important realistic meanings.Over the past more than 30 years, the western scholar has carried on a large amount of academic research in the effect of M&A, but it exists very great uncertainty. This paper is on the basis of summarizing about the effect of M&A and research results of the real example both at home and abroad, then improve the Case Study Methodology, and use the M&A sample to carry on a real example analysis to the effect of M&A collected through the improved Case Study Methodology and Financial Index Methodology. The result of study indicates, the listed company can make company's value rise in short terms, can obtain 1.65% of the excess remuneration in 26 days from beginning to end on the declaration date of M&A. In long terms, the listed company M&A can not improve the business performance. Finally, discusses the question existing in the course about M&A to the listed company of our country, and offer the suggestion of correlated questions.