Research On The Effect Of Structure Of Corporate Governance On The Performance Of The M&A

After the international financial crisis，the M&A (merger and acquisition) market is even moreactive. Financial leverage merger，management buyout，stripping and splitting means are widelyused, M&A has become one of the important means for modern enterprise to achieve rapidexpansion. With the M&A activities continue to occur， the number and scale expandceaselessly，large scale integration is increasing in some industry，but the failure of M&A andbad performance reports appeared frequently，this put forward a new research to the academia:How to evaluate the performance of merger，Which factor influence the performance? Weshould do what to improve the performance? It is worth contemplation.This paper is divided into five parts. The first part is introduction，mainly about the backgroundand significance，research ideas and methods，innovation, And review the previous researchabout the structure of corporate governance，performance evaluation and other relevantliterature，to establish a new relevance theory; The second part，respectively，Tell about thedefinition of the structure of corporate governance and M&A，then the meaning，motivation ofthe acquisition. And explain the relationship between corporate governance structure and M&A;In the third part mainly introduce China’s aerospace industry history and development; Thefourth part is the body of the paper, combine the normative and positive research，bothqualitative and quantitative research methods are used，study the corporate governance structureand the performance of M&A，conclusion its reality meaning. The fifth part is the last part ofthe article，analyze the empirical results. In summary，this paper is aiming at solve the potentialproblems of China’s capital market, which is have specific background; At last, We put forwardsome policy suggestions，and further on the relationship between M&A and the structure ofcorporate governance.