The Impact Of Mergers And Acquisitions On Corporate Financial Performance

With the development of market economy, global mergers and acquisitions has gradually become the tool of enterprises to expand business scale, centralized control capital and production, achieve economies of scale and performance growth.Acquisition as the research object based on the auto industry, China automobile industry keep up with the pace of international automobile industry at present, carry on the structural adjustment, acquisition and reorganization accelerated, however,there is still a large gap compared with foreign mature market operation pattern.Listed companies usually adopt the way of merger and reorganization to improve the industry concentration and achieve economies of scale. And auto industry has the capital, technology, higher industry concentration ratio requirement, therefore our country automobile enterprises in the pursuit of growth, by selecting the favorable target m&a may be a shortcut. Shanghai Automotive Group Co., Ltd. (hereinafter referred to as SAIC) cooperate with the Nanjing Automobile Group Co., Ltd.(hereinafter referred to as NAC), is a smart and the trans-regional automotive major acquisitions of typical cases, so the industry watches. After m&a if be a successful integration of nac, what effect to the enterprise financial performance after m&a?which is the focus of this article research.Structure of this paper is divided into five chapters, the first chapter is introduction, introduces the research background, research ideas and methods, and summarizes the domestic and foreign theoretical research on m&a financial performance.The second chapter is theoretical overview, divided into the basic theory of mergers and acquisitions, mergers and acquisitions related theory of the impact of corporate financial performance and financial performance evaluation method of three parts. The third chapter introduce both sides of the m&a and m&a background and the process.The fourth chapter, through the analysis of the financial indicators and non-financial indicators compared before and after m&a saic the indicators and the change of market value, to evaluate the effects on saic’s financial performance.The fifth chapter is the case part, according to the result of case performance analysis,proposed the merger can promote the enterprise’s financial performance.