The Empirical Research Of Merger And Acquisition Motivation And Effect About The Owned Listed Companies

Merger and acquisition is a hot topic in today's economy society,it plays an important role in the process of enterprise growth as a means of enterprise resources.As long as the firm exists,there will be evolution in the economic market and M&A will take place between enterprises.M&A is not only beneficial to optimize the allocation of resources and the economic structure,but is advantageous to the incentive and constraint the business operators,to promote enterprise innovation and the development of enterprises.Also it is because the inherent superiority of M&A and then rounds of M&A boom are spurred to enterprises.In recent years,the global wave of mergers and acquisitions blustery,but whether the enterprise after the merger to achieve the original purpose,how to evaluate the relationship between M&A motivation and performance,these problems are very important for the enterprise in M&A boom.The paper is based on the M&A motivation to discuss the construction of the enterprise M&A performance,in order to evaluate the relationship between them.This paper has two research priorities,First,what is the reason for the implementation of state-owned enterprises mergers and acquisitions;The second is its impact on performance.The main idea is as follows: On the basis of the theory of M&A performance,we combine the actual conditions of our country enterprise merger and acquisition situation to analysis the motivation of listed companies.Then to establish regression model in order to get the ideal performance of mergers and acquisitions.Again,in this paper,the empirical research part of the M&A events that took place from 2010 to 2011 as research samples,first calculate the sample of EVA index method,then from the perspective of the overall trend of M&A performance of listed companies to analysis various M&A motivation and performance from empirical point of view and apply the EVA index to research the relationship between them and get the conclusions.Finally,we put forward suggestions on the feasibility analysis about howto standardize the behavior of mergers and acquisitions from the aspects of M&A enterprises,government and regulators in order to improve the listed company M&A performance.On the whole,successful experience and failure lessons all happened in our country,The current state-owned enterprises has become a hot topic of economic and social development,in such a realistic background,on the basis of foreign advanced theory,we analysis of current situation of state-owned enterprises M&A,which is of great significance to the healthy development of state-owned enterprises.