Enterprises Under Mixed Ownership Economy Research On The Factors Affecting Merger Performance

At 18,2013,after the third plenary session of the topic "mixed ownership" rapid heating up,according to China's economic research put forward the urgent request of the reality.The mixed ownership is the necessary premise of today's society development,under the background of the mixed ownership economy,enterprise m&a decision become the important content of unavoidable in the enterprise management.Based on the mixed ownership economy,this paper studies the factors that influence the merger and acquisition in the analysis of various factors.Based on the listed companies of Shanghai and shenzhen a-share listed companies,A total of 429 listed companies were selected for the research samples during the period from 2009 to 2015.On enterprise performance and analyze the related factors that affect performance,respectively according to the year before m&a,mergers and acquisitions,a year after the merger,the institutional investors holding,management shareholding proportion,dong alone and mergers and acquisitions both sides ownership property,etc.To study the performance of mergers and acquisitions.In this paper,using SPSS software:(1)the merger between enterprises of different ownership property,improve the enterprise m&a performance.2)there is a significant negative correlation between management shareholding ratio.When the management shareholding ratio is higher,the enterprise performance will be lower.3)The higher the shareholding ratio of institutional investors,the lower the performance of enterprises.4)The proportion of independent directors in M&a performance is not strong,and the degree of correlation is not strong.Mixed ownership economy in the backdrop,this paper studies the factors associated with mergers and acquisitions,combined with previous research results and theory to the analysis of current economic development trend and the concrete representation of the m&a performance,from the perspective of the mixed ownership has carried on the empirical research,and through the existing acquisition method is improved and extended,improve the rationality and feasibility of the empirical analysis method,also indirectly enrich the theory of mergers and acquisitions,complied with vigorously develop a mixed sector of the economy of 19 major work direction.