The Empirical Analysis Of M&A Performance And Influence Factors On Listed Chinese Real Estate Company

With the vigorous development of China’s economy, mergers and acquisitions as an important way to the development of enterprises in the resource configuration and optimization of the company’s business integration has played a pivotal role. More and more scholars began to focus on the issue of merger and acquisition performance, they use different methods from different angles on the performance of the company’s mergers and acquisitions were studied, but did not come to a unified conclusion. And although a lot of research for the acquisition, but starting from a certain industry to study the performance of M&little, the specificity of each sector determines the impact of the acquisition on its results are not the same.This paper selects the real estate industry as the research object for it was active in the current M&A market, selects the121listed companies in the real estate acquisition occurred in2009as the research sample, using the financial indicators law, and selecting12financial indicators from the company’s solvency, profitability, operational capabilities and capacity development, using factor analysis method and extract the main factor to calculate the factor scores and establish a comprehensive M&A performance evaluation scoring model. In order to further study, this paper based on acquisition motivation theory and the existing literature on the factors affecting the performance of listed real estate companies to propose merger hypothesis, and using regression to test how factors affect the performance of the M&A from direction and extent. According to the empirical results, this paper gives comments and suggestions from government, industry, business three angles.