M&A Performance Evaluation Research Of Heibei Province Listed Companies

Under the background of multi-level capital market system construction becomesthe focus of the reform of the financial system, M&A gets the attention of manyindustries. The main purpose of this study is the analysis of the M&A performance oflisted companies in Hebei, coming to M&A activity should take the M&A mode, forthe company play the greatest utility to improve the success rate of M&A, to take amethod of comparative analysis, as well as factor analysis.First, analyze the domestic and foreign scholars study of M&A. M&Aperformance influencing factors as well as the M&A performance evaluation methodsare reviewed. And the concept of M&A and corporate life cycle and related theory areexpounded.Secondly, analyse the present M&A situation of listed companies in Hebei. M&AOverview, M&A characteristics, M&A motivation. Combination of the two indicatorsof corporate life and income growth rate divided the life cycle of the listed companiesin Hebei.Again, take2002to2009listed companies in Hebei Province as samples, usingfactor analysis, an empirical study of its M&A effects, that should take a differentmode of mergers and acquisitions at different stages: growing using horizontalmergers and acquisitions, maturity using vertical mergers, recession using mixedmergers and acquisitions, put forward the cause why M&A performance is not ideal.Finally, in Hebei province to improve the listed company M&A effect to putforward some Suggestions. Listed companies in Hebei province obtain the success ofthe merger to pay close attention to the following three aspects: to strengthen theunderstanding of its own pre-merger, focusing on the efficiency of post-mergerintegration, perfect the external environment of the mergers and acquisitions.