Based On Factor Analysis Of The Performance Of Chinese Listed Real Estate Companies Mergers And Acquisitions Research

Since 1998 the real estate market and the currency reform, China real estate industry is booming.However,there are also many problems,for example,the sharp rise in house prices,the continuous control policies by the government. In order to break the macro-control and market competition brought about by the development of bottlenecks in recent years, the phenomenon of frequent mergers and acquisitions of real estate investment.Domestic and foreign scholars on corporate M & A performance evaluation method can be divided into the stock market event study method and the company’s financial indicators. In view of China’s stock market open to a limited extent, and the lack of timeliness, this method uses the company’s financial indicators as a measure of the real estate mergers and acquisitions and long-term performance evaluation method. Based on China’s M & A activity occurred in 2008, real estate companies listed in Shanghai and Shenzhen 2006-2010 financial data, select the profitability, operations, solvency and ability to grow 10 indicators in four areas to build M & A performance indicator system, constructed by principal component analysis factor variables, factor variables and then calculate the integrated value of the real estate industry as mergers and acquisitions in the [t-1, t+2] a total of four years of empirical analysis of changes in operating performance. In addition, in recent years, taking into account the characteristics of the real estate business development, mergers and acquisitions this article will be divided into blue-chip companies and underperformance of the company, respectively, of these two types of real estate companies M & A performanceBased on empirical analysis, this paper get some conclusions and gives the government control the behavior of the real estate mergers and acquisitions policy recommendations, the implementation of differentiated for different approval standards for mergers and acquisitions, and mergers and acquisitions and suggest ways to improve their level of performance recommendations.