Research On Integration Effect Of The GEM SWS Company Merger

In order to enable the immature start-ups such as technology,management and financing to raise funds through related channels and make them grow into competitive enterprises,the CSRC formally implemented the "initial public offering of stock and start-up on May 1,2009 Board Listing Interim Measures ",and soon,on October 23,2009,the Second-board Market was officially launched in Shenzhen Stock Exchange.After years of development,Second-board Market is more mature.M&A of listed companies is the only way for the rapid development of the Second-board Market,and an effective way to realize technological innovation and industrial appreciation.However,M&A integration process often encounter many problems,how to minimize the loss after the mergers and acquisitions,maximize the integration effect,and become a subject that the M&A of listed companies must study.This paper analyzes the financial integration,human resources integration and corporate culture integration before and after the merger of SWS Company and XSP Company,and makes a detailed study on the integration effect of M&A,finally obtains the following conclusions.First,in corporate finance,financial consolidation is the key to the success of mergers and acquisitions.Second,human resource integration in the company's human resources is the basis for the success of mergers and acquisitions.Third,in the corporate culture,the integration of corporate culture is the key to the success of mergers and acquisitions.Fourth,according to the research result of this paper,At the financial level of the company,the financial audit and assessment should be conducted prior to the merger and acquisition;the merger and acquisition of enterprises should be completed promptly;the financial supervision and control should be conducted after the merger and acquisition.At human resources in the enterprise level,highlight the value and status of employees;to do a good job of human resources management and training.At the corporate culture level,to strengthen all staffs emphasis on cultural integration;to strengthen the protection of proprietary technologies.