An Empirical Study On The Performance Of M & A Electric Industry Listed Company

China is entering the economic liberalization and globalization era, with the further development of market economy, merger and acquisition has become the best way to expand the scale of enterprises, enhance the overall strength of the company. As the basis of our beneficial to the people’s livelihood, electric industry facing the opportunities and challenges of large-scale mergers and acquisitions, asset restructuring and integration of resources be a trend which cannot be halted, the effectiveness of M & A can not be ignored, so the study on M & a performance of the electric power industry listed Company will have its practical significance.According to the theory of industry--from the M & A performance evaluation model-System-Empirical Analysis to study the electric power industry listed Company. The financial index method, selecting 15 listed Company in 2009-2012 electric power industry mergers and acquisitions as a sample, use the basic descriptive statistics and factor analysis method to analyze comparative-one year before the M & A, M & A period, one year after the acquisition, the comprehensive score of two years of business performance after M & A, we get the following conclusions:The M & A performance Sample Firms each are not identical, some listing Corporation mergers and acquisitions performance significantly, the comprehensive score increased year by year; mergers and acquisitions performance results in some enterprises is not satisfactory, the comprehensive score decreased year by year, the most comprehensive score of Sample Firms with fluctuation, reflect the lack of sustained performance of M & A. From the industry as a whole, the overall performance of electric power industry of listing Corporation is a first increased and then decreased, M & A current performance is increased, and the increase is still very large, in the first year after M & A can see this kind of trend is gradually slow, second years began to decline. Generally speaking, M & A is not very significant effect.Finally, according to the electric power industry listed Company in the problem of mergers and acquisitions, combined with today’s national economic policies and economic situation, on the basis of empirical analysis, in order to improve the performance of mergers and acquisitions for the purpose, put forward the countermeasure.