The Research For Financial Integration Of Enterprise Merger And Acquisition

Mergers and acquisitions are the products of a market economy. Since the development and prosperity of Chinese market economy, mergers and acquisitions have made tremendous changes, from the initial passive enterprises bankruptcy mergers and acquisitions into the enterprises to power their own internal needs in consideration of the initiative established objectives, the potential target has been all enterprises in the global market instead of those poor efficiency enterprises.The first chapter of this article gives a brief introduction of basic theories of the present research into financial integration at home and abroad. In the second and third chapters, it analyzes the foundation of financial integration. Then the fourth chapter gives detailed description of the contents comprised in financial integration, including the integration of financial management’s target, the integration of financial institution’s function and structures, the integration of financial systems, and so on. The fifth chapter analyzes the effectiveness appraisal of financial integration. And the case of The Baosteel Group’s merger with Bayi Steel, the article demonstrates how to make effectiveness appraisal of financial integration in the sixth chapter.The purpose of the article is to explore the financial integration matters, perfect financial theories, in order to draw integration into consideration, especially those financial facets. The aim is to achieve the maximal enterprise value. The author wish the paper could be helpful in overcoming those obstacles in mergers and acquisitions.