The Research Of M&a Financial Performance Evaluation System And Its Application Of Pharmaceutical Industry’s Listed Corporations In China

Review of the growth process of the international pharmaceutical giants, which can be found that the growth of the merger and acquisition is one of the main means, through mergers and acquisitions, capital, talent, technology can quickly gathered to form resultant force, so as to improve enterprise competitiveness in the industry and industry concentration. In M&A enterprises, pharmaceutical enterprises accounted for a large proportion, the pharmaceutical industry mergers and acquisitions boom reflects the good development of industry momentum, but also proposes a bigger challenge to the rational investment and enterprise management. But for the pharmaceutical industry where M&A events had occurred frequently, mergers and acquisitions can really improve the company’s operating performance, and complete the original intention of their M&A behavior?This article is based on this question, and on the basis of M&A’s concept and motivation theory research. Select the listed companies in pharmaceutical who had have M&A behavior in 2010, use their financial statements’ data, analyze the sample firms’ M&A behavior during the study periods, do the study of multi-level analysis of financial performance about our country’s pharmaceutical listed enterprises during the mergers and acquisitions’ study period, in order to put forward the proposal for the merger and acquisition behavior of the listed companies in pharmaceutical.The ideas of this study include those aspects: Firstly, it introduced this paper’s research background and significance, research contents and research methods. Secondly, this article expounded the relevant theories of mergers and acquisitions, mergers and acquisitions’ performance theory, and the relevant research both at home and abroad of the financial index method on the basis of the theory of performance evaluation, provided the support for the theoretical part. Thirdly, this paper summarized the motivation of our country’s medicine industry companies’ M&A behavior, through the analysis of China’s pharmaceutical industry present development situation, the M&A development history of our country’s companies in pharmaceutical. Fourthly, chose the accounting method as the research methods for this article, then established the financial index evaluation system on the basis of this method. Finally, this paper selected the listed companies in pharmaceutical industry who had have M&A behavior in 2010 as sample data, designed the financial index evaluation system to research and analyze their M&A performance, and the conclusion shows that the sample company’s performance has improved slightly after merger, but the behavior does not bring companies the expected results, doesn’t improve their performance greatly, the whole performance of M&A is not significant. In the end, this study puts forward some suggestions to optimize our country’s pharmaceutical enterprise’s M&A performance based on the application research conclusion.