An Analysis On M&A Performance Of Listed Companies

With the increasing maturity of China’s market economic reform, China’s capital market has ushered in a fast-expanding era. Corporate mergers and acquisitions have become a major approach for fast expansion of capitals. As a major method to allocate market resources, corporate mergers and acquisitions can help upgrade industrial structure, accelerate realization of optimal resource allocation, maximize corporate value and better realize efficient industrial integration and acceleration of re-allocation of social resources. However, during the practical mergers and acquisitions, there are several problems to be studied, such as whether M&A can influence corporate performance and whether M&A have a negative or positive influence on corporate performance.Based on the two different state-owned and private-owned M&A entities, this article takes the companies which happen M&A events in two stock markets for example and then gives them a main analysis. Meanwhile, the performances of the listed companies before and after their having M&A are graded as well through the index system. Also, an empirical analysis of the changes of performances before and after those companies’ launching M&A is given through Wilcoxon rank test.And all the findings show that, the M&A performances of the state-owned listed companies rose first and fell later while that of the private-owned listed companies, viewing from an overall aspect, keeps rising. The M&A performances of the private-owned listed companies are better than the M&A performances of the state-owned listed companies.