Mergers And Acquisitions Of Economic Analysis

The reform of enterprise is the most difficult part in the Chinese economic reforms. Merger and acquisition (M&A), as an effective way of the reform of enterprise, has been approved by both the theoretical circle and the practical circle. The government has also paid much attention to M&A: On a recent meeting, Premier Zhu Rongji still put emphasis on the great function of M&A in promoting the balance of the industry structure. Because we lack the systematic discussion of the definition-, the background and the methods of M&A, this thesis tries to elaborate on the following questions: Why can we carry out M&A (economic background of M&A)? In what way can we carry out M&A (the methods of M&A)? What is the outcome of M&A (the effect of M&A)? Based on the study, the main problems we face in China are raised in the process of M&A, and corresponding measures are also given for reference. Meanwhile, it figures out the future orientation of these firms. This thesis can be divided into 7 parts. The first two parts tell us about the basic theories of M&A, including the definition of M&A and the evolution of M&A theories. The third part analyzes the economic background of M&A. The fourth part dwells on the methods of M&A in listed firms and firms that are not listed individually. The fifth part expounds the effect of M&A in China on the basis of analyzing the macroscopic and microscopic effect of M&A in general. The sixth part points out the main problems we face in China in the process of M&A, advancing corresponding measures for reference. The seventh part figures out the trend of the development of these firms according to the present features of the firms that are listed in our country. This thesis is characterized by systematic study on the economic background of M&A and elaborate analysis on M&A of the firms that are listed, including the analysis of their operating methods and the trend of their development. Meanwhile, many examples are given to support these theories.