FRIENDSHIP With BAILIAN Effect Analysis Of Stock M&A

Since the 1990 s, the global total of five times a wave of mergers and acquisitions, mergers and acquisitions have become a form of capital operation, to national economic development plays an important role.Set off a wave of mergers and acquisitions and for the first time in China since 1993 has become increasingly active, truly to enter orbit in 1997, after the speed up year by year, the economic impact of growing, m&a effect still is the content of the domestic scholars constantly explore.Since the first wave of mergers and acquisitions in 1895, western scholars value effect of m&a has also conducted a large number of academic studies, but taken together, the effects of mergers and acquisitions has certain uncertainty.So this paper makes a research on the effect of mergers and acquisitions to guide our country enterprise merger and acquisition development has an important role.FRIENDSHIP based on the 2010 share swap absorption merger BAILIAN shares as samples.Along the background, theory, case description, problem analysis, conclusions and Suggestions about the basic ideas of study, mainly using the method of financial indicators of FRIENDSHIP shares merger before and after five years of profitability, solvency, operating conditions such as comparative analysis.With is to use induction from the industrial organization structure, technology progress and economic growth and resource allocation of FRIENDSHIP stock share swap absorption merger BAILIAN effect analysis.The full text is divided into four chapters, research content and structure of chapters as follows:Introduction: first of all, the paper expounds the research background and significance of this article.Secondly, this paper introduces related literature at home and abroad.Finally this paper introduces the research content of this article.Research methods and research framework.The first chapter: mergers and acquisitions and its effect of relevant theory.This part will introduce two aspects, one is the summary about the connotation, type and reason of mergers and acquisitions.The second is to introduce the effect of m&a.The second chapter: the basic situation of the stock m&a BAILIAN, FRIENDSHIP. First introduce the basic overview of mergers and acquisitions related enterprises.Second analysis of mergers and acquisitions background, motivation, purpose, and the concrete scheme of mergers and acquisitions.Mergers and acquisitions results in the end.The third chapter: FRIENDSHIP m&a BAILIAN effect analysis.Through five years of financial index contrast before and after the merger, asset scale of comparison and contrast with rival enterprise situation for the acquisition of the economies of scale, management coordination effect and financial synergy effect is analyzed.Chapter four: Conclusion through the merger of new FRIENDSHIP in the scope of business, asset size, profitability, solvency and operation ability are improved, and gives Suggestions for the m&a effect of the listed companies in China.Through the study found that: after integrating the new FRIENDSHIP will become a strong comprehensive competitiveness, business forms of the large retail enterprises, FRIENDSHIP shares through the merger BAILIAN obviously has become the "retail commercial aircraft carrier" of our country.