The Research On The Finance Integration Of Enterprise M&A

Enterprise’s Mergers and Acquisitions (M&A) is the effective means of realizing the strategic expansion, adjusting industrial structure and optimizing the allocation of resources quickly, and is the inevitable requirement of the development of market economy. However, M&A is not simple combination of the two enterprises. The endless failure M&A cases tell us:the success of M&A depends on the various aspects’integration, such as strategy, organization, culture, human resources, finance and so on. Financial integration as the core content of the M&A integration, the stand or fall of implementation of financial integration decides the merger of integration effect and concerns the success or failure of M&A. If Lack of financial integration, may lead to the failure of the whole M&A.After the completion of M&A, M&A enterprise must carry out timely, effective financial integration to merged enterprise, by which can give full play to financial synergy effect of M&A, make the enterprise’s resources realize optimum allocation, improve the financial management ability and management efficiency of enterprise, and then strengthen the core competition ability of enterprise, increase enterprise value and strong its market position. The enterprise also has to make a scientific, objective evaluation on the financial integration effect, so that can solve all problems when it comes out as early as possible, and make sure the financial integration achieved the desired results. In addition, enterprise also should do well the four aspects of the work, including financial examination which is before integration、financial control which is after integration、rapid integration and the prevention of financial information leakage, in order to provide strong guarantee to the success of financial integration.With the economic globalization and the financial market innovation, M&A present a strong growth momentum in the global scope, and M&A has become the research focus of the theory and practice. Therefore, in-depth study on the problems of financial integration after the merger has important theoretical and practical significance to improve the success rate of M&A. This paper firstly states the background and significance of the topic selection and on the basis of previous studies, summarizes the theory of financial integration after M&A, and forms a theoretical framework. Secondly introduces the process and the specific content of financial integration after M&A. Thirdly, according to the effect performance of financial integration after M&A, the paper builds a system of performance evaluation index on financial integration to make a scientific, objective, comprehensive evaluation on the financial integration effect, Finally the article chooses the case on financial integration of Shen Huo company which takes over a aluminum company named Qin Yang Qin Ao, on the purpose that M&A enterprise fundamentally can clear the ideas of financial integration, grasp the content of financial integration and the performance evaluation of financial integration Besides, the article also emphasizes the Key factors which should be paid attention to for the sake of the success of financial integration after M&A at the end.The contribution of this paper is that the article on the basis of previous studies, more systematically and comprehensively summarizes the theory of financial integration after M&A, and builds a system of performance evaluation index on financial integration. The article takes the way which combines the theory and the case, to grasp the theory of financial integration and carry out financial integration activities better. The limitations of the study mainly reflect on three aspects:one is that the theory foundation of financial integration after M&A is weak in our country, both the capital market and M&A activities are not perfect; two is that the performance evaluation of financial integration after M&A excessively depends on financial data; three is that because of the limitation of my research level and practice experience, the conclusion which is come to by subjective judgment is hard to avoid deviations.