Performance Evaluation Of Cross-industry Mergers And Acquisitions In Value-oriented

The mergers and acquisitions is an important means for enterprises seekingrapid growth and development,and is one of the important strategic in businesscontinuity process. Especially under conditions of market economy, mergers andacquisitions has been a wide range of applications around the world. M&A can helpcompanies complete upgrading the organizational structure and industrial structure,encourage the scale of production and management, improve enterprises’competitiveness.In this study, literature research methods, historical research methods and SPSSstatistical analysis methods are used for the research. Based on the theory related tothe mergers and acquisitions, by the method of empirical research and analysis, theEVA indicator related research is selected. The major content as following:The first part includes the chapter one to chapter two, is to study the theoreticalbackground and overview of the relevant part. Mainly related to value-oriented,theoretical basis related to the acquisition, mergers and acquisitions, and ourcross-industry mergers and acquisitions performance profile and characteristics.The second part is the core of this study, and makes empirical analysis on theperformance of the cross-industry mergers and acquisitions. On this basis, theproblems and countermeasures of cross-industry mergers and acquisitions areanalyzed. Empirical analysis is based on the selection of the listed company,whichhad taken cross-industry mergers and acquisitions from2005to2008,as asample,using EVA index evaluation method to calculate the EVA value of thesample before and after cross-industry mergers and acquistions.The third part is the conclusion of this study primarily to summarize the mainresults, and on this basis, the direction of future research prospects.The statistical results of this study show that: for the cross-industry M&Acompanies, M&A events did not significantly affect the company’s performance, didnot bring about the enhancement of corporate value. After a short-term improvementin the M&A year, the sample of enterprises’ performance tended to decline in thefirst two years.