China Mergers And Acquisitions Of Listed Companies And Their Performance

With China's entering WTO and the development of economic reform, many enterprises have faced merger and acquisition (M&A), which will change the industry structure and affect the whole market economy and stock market in China. But there still are problems in M&A of listing companies, and they not only meet with opportunities but also challenges.Economic theories and management theories have had some study of M&A in marketing economic countries. But as we have known, comparatively in China, it is not often studied whether in theories or practice for we have little mature experience.The objective of this thesis is to study the M&A of listing companies. At first, from the macroeconomic view, the thesis summarized and analyzed the motive theories and the special motives of Chinese listing companies. Then though empirical evidence study and statistic analysis, it gave measures and suggestions for government and companies to improve synergy such as long-time government plan making, law and regulations environment development, agency strengthening, measures aimed at MBO, management of M&A process and reforms of listing companies after M&A.