A Study On M&A Performance And International Competitiveness Of Zhejiang's Listed Company

Throughout the history of the development of world-class multinational corporations, every corporation more or less had the M & A behavior. As the economic province, Zhejiang has many excellent listed companies which play an important part in promoting the development of Zhejiang's economy. The M&A performance and international competitiveness of Zhejiang's listed companies are not only related to the future and destiny of Zhejiang's economy, but also to the survival and development of Zhejiang's enterprises in the increasingly competitive and international environment, what's more, they also have great practical to the enterprises and economy of Zhejiang.This paper is based on the sample of Zhejiang's listed companies, first it analyzes the situation and developmental trend of Zhejiang's listed companies and the M&A of Zhejiang's listed companies and the international competitiveness of Zhejiang's enterprises; after that, this paper sets the evaluative index system of the M&A performance and the international competitiveness of Zhejiang's listed companies, using the factor analysis methods to comprehensively evaluate the M&A performance and the international competitiveness of Zhejiang's listed companies before and after M&A. Then this paper uses the method of the correlation analysis and the multiple linear regression analysis to further study the effect which the M&A performance has on the international competitiveness of Zhejiang's listed companies. And all analysis is based on the different mode of the M&A and industries. At last, this paper gives the corresponding countermeasures and suggestions.Studies show that: the M&A performance of Zhejiang's listed companies has the short-term effects and some volatility, M&A is not substantially increasing the operating performance of the companies; the international competitiveness of Zhejiang's listed companies has been significantly improved after M&A, but has volatility, and the mixed M&A has most significantly effects. Meanwhile, the M&A performance and the international competitiveness of Zhejiang's listed companies show the significantly positive correlation after M&A, that is, the companies can enhance their international competitiveness through M&A, and mixed and horizontal M&A have more significantly positive effects, what's more, the capability of the growing and operating have more notable effect on the international competitiveness of companies.The innovation of this paper is to study the the M&A performance and the change of the international competitiveness of Zhejiang's listed companies before and after M&A, and further study the effect which the M&A performance has on the international competitiveness of Zhejiang's listed companies.