Research For Market M&A Performance Of Iron And Steel

M&A has become the important means to optimize product’s structurein the enterprise,and improve the competitive power of enterprise,theperformance of the company’s merger and reorganization, has become the hotspots of domestic and foreign scholars’ study.Because of the complexity anddiversity of the merger and reorganization,and the sample is different,and theresearch method is defect,and other reasons,but it failed to reach the sameconclusion. Therefore,the research on the M&A performance of China’s ironand steel enterprise has very important value.Existing research on merger and reorganization of iron and steelenterprise’s policies failed to carry on the quantificational analysis,the topiccomes from the reality,to join one of the virtual variable national policy,Withthose financial indicators which measuring index system of enterprise.Inorder to achieve a more accurate research to the influence of the performanceof the merger and reorganization,this paper not only research steelenterprise’s M&A financial performance of Chinese listed iron,but alsochoose detailed data for empirical research as far as possible.Firstly,according to the listed companies in our country’s iron and steelenterprise’s merger and reorganization in the current situation,the paperchoose the M&A activities happened in the2002-2008,and select12indicators which can measure the company’s manage achievement,and thevirtual variable industry policy included.By using factor’s analysis on the13variables,the paper structure the score function of the comprehensiveevaluation of enterprise performance,to measure the M&A performance ofiron and steel enterprise. This study finds that obvious improvement has beengotten after merger and reorganization of enterprises,there are a few of theiron and steel enterprise which performance worsened.The reasons are thelag of M&A integration,and the impact of the crisis on the global steelindustry,resulting the rise of raw materials and fuel price,as well as China lagof intermediary organ and so on. Finally,this paper provided with somerelated suggestions on the basis of affecting M&A restructuring of China’s steel market performance of the relevant factors.