The Empirical Research On M&A Performance Of A-share Listed Daily Consumer Goods Companies Based On Financial Indicators

In recent decades, Mergers and Acquisitions frequently occur in the stock market in China. Shareholders want enterprises to get more profits or benefits through M&A. Daily consumer goods industry is closely bound up with people's lives. Therefore, research and analysis of the development of this industry M&A is practical significance.This research shows the literature review on the general theory of knowledge and the acquisition of domestic and foreign scholars. Then gives a introduction for the development of daily consumer goods industry, drivers and constraints, etc., and makes statistics on daily consumer goods industry M&A.In this research, the industry's A-share listed companies have been selected in the 212 M&A events between 2001-2012 as the research objects. Extracted five companies as a factor of 14 financial indicators, using SPSS Vision 20, comparative analysis of mergers and acquisitions last year, this year, and next two years after the performance of the composite score. Then M&A performance composite score as the dependent variable, extract mergers and acquisitions, industry, shareholders three total nine independent variables do multiple regression to analyze the impact of the merger performance factor. Finally, the conclusions are showed as bellow:1. The performance of daily consumer goods decreased M&A post-merger earnings rise faster, but lower than before the merger. After less than a year after the merger acquisition performance for next two years, but the upgrade is faster.2. The year before the M&A mergers and acquisitions affect performance year major proportion of institutional ownership, a positive correlation. Next two years after the M&A year impact factor is mainly the top ten shareholders holding tradable shares and stake proportion of shares. The former is a positive correlation, while the latter is negative correlation.In summary, this research method based on financial indicators, using factor and regression analysis to analyze the performance of daily consumer goods merger changes and influencing factors for the merger provides a theoretical basis.