Research On Anti-merger Strategy Of Listed Companies In China

With the reform of China's share-trading reform,the capital market has been gradually improved.In order to realize the development of enterprises and gain a competitive advantage,the M & A activities of listed companies are endless.The increase in mergers and acquisitions and mergers and acquisitions in the capital markets has brought vitality to the capital markets.More and more equity decentralized,the stock value of the undervalued listed companies are facing the risk of mergers and acquisitions.Although many theoretical studies show that mergers and acquisitions can bring business and financial synergies,economies of scale,but the target companies are not willing to accept mergers and acquisitions M & A intention to take a series of anti-M & A behavior.On the anti-M & A theory and concrete measures,the Western theory has a more in-depth study,and make full use of anti-M & A practice.However,due to the particularity of China's M & A market,many theoretical studies in the West do not apply to China's real environment.Based on the research on the anti-M & A measures taken by China's listed company,Shanghai Xinmei,which is used in the competition of "Kai Nan Department",with a view to providing reference for the anti-M & A of listed companies in our country and the improvement of relevant laws and regulations in China Put forward direction.This paper first introduces the theoretical basis and main strategies of anti-M & A,then analyzes the current situation of M & A and anti-M & A of listed companies in China,and introduces the theoretical basis and main strategies of anti-M & A,Anti-mergers and acquisitions of the status quo analysis,and introduced China's listed companies anti-M & A motivation.This paper briefly introduces the incident process of Shanghai Xinmei anti-merger and acquisition,and sums up and evaluates the purpose and effect of its anti-merger strategy.Finally,the experience of Shanghai Xinmei anti-M & A is summarized,and on this basis,it puts forward suggestions for anti-M & A of listed companies in China.(1)the management of the company to be good at operating,improve performance,to avoid a sharp decline in stock prices,suffered a malicious placard;(2)the company to improve the company's capital market,(3)the choice of anti-M & A strategy to the interests of shareholders as the center,to avoid short-sighted behavior damage to the interests of small and medium shareholders.(4)the development of anti-M & A policy to meet the relevant laws and regulations;...