Influence Of The Payment Method On Post-M&A Performance

As an important Economy measure to expand the enterprise’s scale and to increase the enterprise’s production efficiency, Mergers and Acquisitions (M&A) play an increasingly important role in social development. Meanwhile, carrying on corresponding research on M&A has extremely important theoretical significance and practical significance.In this paper, I will use the Accounting Research Method and the Factor Analysis to do a study on "The Influence of the Payment Method on the mid-long term Post-M&A Performance——Based on the Development of Industry" and do the study with89M&A examples conducted in2007and screened out by some screening rules. In this paper, according to the Development of Industry, divide the listed companies into3parts:growth companies, maturity companies and recessional companies; according to the Payment Method of M&A, divide the listed companies into2parts:the M&A companies with share-based payment and the M&A companies with cash payment, then, according to the different Development of Industry and different Payment Method of M&A, divide the examples into some parts to carry on the research.The empirical research results reveal that, the post-M&A performance has improved with the next following three years after M&A. Meanwhile, results tendency charts reveal that:different Payment Method of M&A does lead to the different post-M&A performance; different Industry development level leads to the different post-M&A performance; the growth companies with the cash payment method will perform better and the maturity and recessional companies with the share-based payment method will perform better.