The Effect Of Enterprise Merger And Acquisition And Its Countermeasures

At the end of the 19th century,the first economic crisis in the United States began,the emergence of the first wave of mergers and acquisitions,after the merger began to flourish.Governments around the world in the world political economy to obtain a favorable position,and actively guide and vigorously promote inter-enterprise M&A activities.Especially by the 2008 global financial crisis and the impact of the world economic recession,the downward pressure on the economy began to increase,business operations is very difficult.In this context,China's economy has also encountered an unprecedented adjustment and opportunities,the wave of mergers and acquisitions,industry restructuring and re-shuffle business is also planned to spread out.Not only Chinese enterprises,enterprises around the world are frequent M&A activities,which is the re-allocation of social resources,improve the efficiency of the use of an important way.With the economic globalization and the development of science and technology,the economic function of culture is also growing.Cultural media industry in promoting economic development,enhance social progress in the process of success,is an important part of GDP in some countries.China's cultural media industry is still in a low level of development,and now as a potential and prospects are more optimistic about the industry,still face a lot of pressure;for example,the rapid development of new media makes the traditional media industry was forced to transition,while But also faced with foreign and domestic strength of the media company's acquisition risk.In order to effectively avoid these external risks,M&A has become an effective way to enhance the strength of enterprises.Through the elaboration of the background and historical development of M&A,this paper leads to the effect of M&A,systematically introduces the relevant theories of M&A both at home and abroad,and gives theoretical guidance for analyzing the M&A effect.The study case was selected by Zhejiang Newspaper Media Co.,Ltd.,Hangzhou winger and Shanghai HaoFang this acquisition event,its short-term and long-term M&A effect analysis.Through the use of financial data and events on the stock of excess returns to study the Zhejiang newspaper media acquisition winger and Hao Fang after the merger effect;analysis of corporate mergers and acquisitions after the stock performance and solvency,profitability and future development capabilities,the use of The free cash flow of enterprises to explain the rationality of mergers and acquisitions,mergers and acquisitions process to sum up the results summarized and reflection.This paper aims to explore the effect.of mergers and acquisitions,research and analysis and summary through mergers and acquisitions of domestic and foreign theories,and then select the relevant case analysis,provides an effective reference for Chinese enterprises after the merger effective realization of positive effect,optimize resources,to create a "1+1>2" economic benefits,help enterprises to gain the maximum profits of.