An Empirical Study On Merger And Acquisition Performance Of China’s Automobile Industry

Due to the need of resources integration and industrial development,the government attaches great importance to the merger and reorganization of automobile industry and resource integration of automobile industry.The state clearly proposes in the development plan of automobile industry that through the merger and reorganization of automobile enterprises,it should focus on cultivating one or two large automobile groups with annual sales of over 2 million and several key automobile enterprises with annual sales of over 1 million.In China’s automobile industry adjustment and revitalization plan,it is clearly proposed to support changan,saic,dongfeng and faw to carry out merger and reorganization in the country,and support chery,baic,gac and sinotruk to carry out regional merger and reorganization "four big four small" mode.The introduction of these policies greatly promoted the reorganization and merger of China’s automobile enterprises.Merger and acquisition is the inevitable product of the development of automobile industry.At the present stage,the main task is how to improve the positive effect of the m&a of automobile enterprises,discuss the improvement of the performance of m&a,and what kind of methods can be adopted to carry out m&a so that Chinese automobile enterprises can have a better industrial structure,better integrate existing resources and improve the core competitiveness of automobile enterprises.This is an important subject in our current research.This article through to the automobile enterprise merger and acquisition of data collecting and organizing,and the data statistics and analysis,empirical analysis,combining with the existing theoretical analysis model was constructed,find out the auto enterprise mergers and acquisitions of internal cause and external cause,combined with the theoretical research and empirical analysis result,make an empirical analysis of the performance of China’s automobile enterprises merge.The following conclusions can be drawn from the research: first,the performance of automobile enterprises has been improved in the short term after m&a and reorganization,but in the long term,m&a has not significantly improved the performance of automobile enterprises.Second,m&a is conducive to the short-term performance improvement of China’s auto enterprises,but there is no significant improvement and promotion in the long term.