The Related Research On M&A Of Listed Companies And Corporate Performance

As China’s capital market development, mergers and takeovers of listedcompanies have increased year by year. Mergers and acquisitions are an effectivemeans of resource allocation in market economy. Which play an active role in thecountry’s industrial structure adjustment and developmentHowever, the company’s M&A is a systematic project, involving a number offactors, how to make the meger a success is a problem which the theorists andpractitioners are exploring.. In mergers and acquisitions, the impact of M&Atransaction performance factors are the size, the relevance of mergers and acquisitions,premium transactions, mergers and acquisitions the company and acquired company’snet assets ratio of the acquired company’s earnings and the state shares and the largestshareholder’s ownership percentage.In this paper multiple regression analysis methodis used and we get the conclusion that mergers and acquisitions can improve companyperformance, at least not damage the company performance on the whole. Transactioncan significantly affect the acquisition of premium performance, a positive correlationbetween the two, the other with high growth and large-scale trading companyperformance can be improved. Acquisitions of the company and the acquiredcompany have the industry relevance, which can reduce information asymmetry,lower acquisition and improve acquisition performance. Greater proportion of thelargest shareholder, the smaller the proportion of state shares, the better post-mergercorporate performance.Mergers and acquisitions of listed companies were used to reflect theperformance of stock market performance and changes in the actual financialperformance, said the accounting change. This paper use event study analysis of M&A market response performance and financial indicators to study post-mergeraccounting performance. Through descriptive statistical analysis and multiple linearregression analysis: mergers and acquisitions create wealth for shareholders, but alsoto the events in the acquisition phase in improving the company’s financialperformance and market reaction to performance and financial performance of aconvergence of accounting, window period that the market response to actualperformance could translate into financial performance. Market reaction toperformance and consistency of financial performance are under accounting investorprotection mechanisms of the effects of property rights, mergers and acquisitionscompanies improve property rights protection mechanisms in order to promote theevent window period to period stock returns into real financial benefits.