The Research Of Merging And Acquisition Performance Of Iron And Steel Listed Companies In Our Country

Affected by the financial crisis, domestic steel industries facing great pressure,mergers and acquisitions is an important approach to cope with the crisis.Using the method of case analysis and literature research, selecting stock price and financial indicators as performance indicators and based on the relevant theories of m&a performance, this paper analyses the enterprise performance changes before and after Jinan iron merging Laiwu iron, which illustrates the effects of mergers and acquisitions on corporate performance.The paper contains six chapters. The first chapter is the introduction, which is elaborating the background and significance of thesis writing, decrypting the overall thought and method of thesis writing, summarizing the research content and instructing the innovation points according to the research process.The second chapter studies the relevant theories of m&a performance and comments on the literature of the performance of mergers and acquisitions home and abroad.The third chapter analyses the present situation of our country’s iron and steel industry mergers and acquisitions, practice and system background of iron and steel industry mergers and acquisitions in China.Chapter4reviews the basic situation of two companies Jinan iron and Laiwu iron before m&a, including the scale of operation, financial status, equity structure and so on. Second, it reviews the m&a process of Jinan iron and Laiwu iron.The fifth chapter illuminates the performance index of mergers and acquisitions, including share price and financial indicators. Selects the relevant financial indicators before and after Jinan iron merging Laiwu iron merging in order to study Shandong steel performance changes before and after m&a.Chapter6contains conclusion and revelation. Through the analysis of the sample case, the following conclusions.During three months and half year study periods, m&a has no positive effect on the stock price, but it makes great wave before and after the merger and acquisition point. China iron and steel enterprises mergers and acquisitions can draws inspiration from Jinan iron merging Laiwu iron, such as to establish a fair m&a market, improve and perfect the enterprise management structure, control the scale of mergers and acquisitions, and strengthen enterprise merger integration, etc.The innovation point is that this paper studies the changes in share price in different length of time.It finds the rule on share price changes before and after mergers and acquisitions and obtains that in different terms the impact on performance is different. And put forward the constructive suggestions to steel companies mergers and acquisitions.