The Study Of Influence Of Integration Of Human Resources On M&A Performance

As the development of society and economy, the age of information and knowledge arecoming. The human resources is more and more important for our society and company. In theeighth informal meeting of leaders of the Asia-Pacific organization the ex-chairman Jiang Zeminhad said, the human resources are the primary resources, and the key factor to economic andsocial development and to achieve scientific and technological progress. The Third PlenarySession of the Sixteenth Central Committee of the Communist Party of China, had make the"Decision" and proposed a new requirement, what is to adhere to the people-oriented. One of itsfeatures is, it is a starting point and center guiding ideology in the process of enterprisemanagement. That means who have the human resources, who will have wealth in the futuredevelopment.Based on the realistic, this essay first expounds the significance and the background of thetopic, and review related literature about integration of human resources at home and abroad inthe merger. The principal theories of this paper are agent theory, efficiency theory, motivationtheory, and human capital theory. Empirical method is the main technical of the full text. Thesamples are451A-share manufacturing listed company who happened M&A event in2007,2008and2009. First using a linear regression model tests the relationship between theemployees’ professional structure, educational structure and ROA. Results: employeesprofessional structure, educational structure have the significantly relation with ROA. The seniormanagement are the core spine of the company’s, the core of the development. Remunerationwhat is the primary factor affect on them, can be divided into two aspects: cash compensationand shares held by. Then explore the relationship between the cash compensation and the M&Aperformance and between the proportion of executives holding and the M&A performance.Concluded as follows: First, there is a significant positive relationship between the cashremuneration of the management and the M&A Performance; Second, senior management stakehave a significant and positive correlation impact on M&A performance. The ends of this article,having the conclusions of the study of the theoretical and empirical analysis, and giving somerecommendations about the M&A integration of human resources in M&A.