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Case Study Of Mergers And Acquisitions Of Hongyuan Securities Led By Shenyin&wanguo Securities

Posted on:2017-08-23Degree:MasterType:Thesis
Country:ChinaCandidate:J C ZhuFull Text:PDF
GTID:2359330536476052Subject:Finance
Abstract/Summary:PDF Full Text Request
With the rapid development of economy,Competition is more intense,Enterprises through traditional way,such as increase the scale of production or a reduction in the cost to enhance competitivenesss,also need to complete mergers and acquisitions to expand market share and increase the operating efficiency of purpose.The characteristics of domestic securities companies generally have low capital,China's securities to develop and grow,can form direct competition with foreign investment situation,M & A is the only way which must be passed "The reason for choosing this case SW merger Hong Yuan Securities,the first case of mergers and acquisitions and the impact on the domestic securities industry merger history is unprecedented,secondly,In the case of distinct characteristics,such as the choice of convertible merger,backdoor listing and its forms and double-layer structure,and provides a new development direction for the domestic securities industry merger.First introduce the research background of the article,and points out the significance of the study.Secondly,the analysis of the advantages of the case to find out the acquisitions and the existence of risk.Once more,this paper mainly discusses M&A Performance and adopts quantitative analysis and Du Pont analysis,event study method and regression analysis method combined with the latest data on 2016 were the existence of business performance,profitability and the market reaction and systemic risk are analyzed,found in improve the efficiency of business after the merger,profitability is enhanced at the same time,the market of the merger is optimistic in the short term and long term are also,after the merger of systemic risk Corporation were decreased to a certain degree,so the acquisition from now it is more successful,and finally from the merger in order to get some enlightenment in the domestic securities industry merger means Ming development direction.
Keywords/Search Tags:Acquisitions, Merger Risk, M&A Performance, Convertible Merger
PDF Full Text Request
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