The Empirical Study On Merger And Acquisition Restructuring Of The Listed Companies Belong To The Textile Industry In Our Country

In the big trend of the economic globalization, China's textile enterprises also need to integrate into the tide of economic development of the world's textile inevitably. Since China has accessed into the WTO, China's textile industry has been consistently through ordeal. The development of the textile industry is affected not only by its resources and the domestic market demand, which are the ailing double constraint, but also has faced the growing intense competition under the international market pressure. Only if going the way of the optimize the allocation of resources and constantly upgrade the industry, while according to the external macro environment and their own internal condition, China's textile enterprise can develop and adapt to the new increasing style. To achieve this, the necessary way is asset reorganization, like expanding the scale of enterprises, perfecting the industry chain or improving the main business.Only transferring into the big companies and famous enterprises which own the well-known brand and independent intellectual rights and strong core competence, the native industry can participate in international competition, so as to replace the present context that bad self-discipline and vicious competence. However in the reality, the reorganizations are not totally for the strategic purpose but for financial motivations and sometimes even if the original intention is correct, the efficiency is rare, which make it doubtfully whether it can better the achievements.The purpose of this paper is to analyze the develop context of China's textile industry and its environment in and abroad combined traditional theory of assets regroup to raise up the necessity for them to better achievements through reorganization. Then it will state the present regrouped situation of textile industry in our country.By the combination of empirical study and interview talk, this paper will compare the achievements grow out of different type of reorganizations. At last what cause the achievements better or worse will be found out. During the empirical analysis process, this paper will try to use the new performance evaluation index system" excess profit growth rate "for research, with the traditional accounting method after verification, ensure the reliability of the results.According to the empirical conclusion,,this paper will summarize the exist problems and its causes during the regroup at the last paragraph, so as to put forward some advices that how to improve the effect of assets reorganizations.