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Research On Mixed Merger And Acquisition Performance Of Financial Enterprises

Posted on:2019-05-19Degree:MasterType:Thesis
Country:ChinaCandidate:H XieFull Text:PDF
GTID:2359330545962627Subject:Accounting
Abstract/Summary:PDF Full Text Request
In December 2015,the behavior of the financial capital to cross-border mergers and acquisitions of the real economy has received unprecedented attention from the entire society as the dispute over the Wanbao has triggered a panic in the “barbarian invasion” market.At the same time,financial capital did not slow down,and financial groups such as Baoneng Department,Anbang Department,and Evergrande Department continued to attack.They had sponsored companies such as Vanke A,Gree Electric Appliances,and China Construction,which not only boosted market prices.,And it raises questions about the society's mixed business of financial companies.What is the motive of the financial enterprise's merger and acquisition of the real economy? How does the target company carry out the post-integration and what impact will it have on the performance of the company?In order to answer these questions,this article also conducted a thorough study using the normative research method and the case study method.First of all,this article has combed and commented on the relevant literature,reviewed the research results of relevant scholars to better fill the previous research gaps of scholars;Second,this article defines the key concepts and clarifies the theoretical basis of this study.In order to guide the later study,again,through the descriptive statistics method,the status quo of the Chinese financial enterprises' M&A was analyzed.The characteristics of the M&A of the financial enterprises compared with the M&A of the real economy were analyzed,and the process of the M&A of the Chinese financial enterprises was also analyzed.The relevant laws and regulations and related systems are categorized,and summarize the current practical problems in the current Chinese financial enterprises' M&A.Then,in light of the content of M&A performance,this paper introduces the performance evaluation methods and the reasons for the adoption of this paper;then,The typical case of Ping An's acquisition of Shanghai Jahwa conducted a comprehensive study focusing on the three aspects of merger and acquisition motivation,integration process,and performance results.Based on M&A performance,the issue of poor M&A performance was traced.Finally,this paper addressed this issue.Research conclusions are presented Recommendations.This study finds that financial companies have poor performance in mixed M&A,and the reasons for this are many.First,financial companies are eager to obtain corporate control rights,and they lack the fear of the real economy.Second,financial companies have the risk of becoming internal controllers.As a result,the target company's interests have been damaged.In the end,the financial companies themselves have been underdeveloped and lack the ability to manage the real economy.This has created a situation in which “foreign lay leaders take the lead”.Therefore,this article puts forward several suggestions: to improve the laws governing the merger and acquisition of financial companies;to ensure the smooth transition of corporate control rights;to strengthen the construction of financial institutions themselves to strengthen the management of the real economy;and to build a complete process evaluation system for M&A performance.It is expected to provide suggestions for relevant national legislators to provide guidance for similar mergers and acquisitions,and ultimately improve the performance of financial companies' M&A.
Keywords/Search Tags:Financial Enterprises, Conglomerate Merger, Motivation, Performance
PDF Full Text Request
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