Performance Analysis Of Successive Mergers And Acquisitions For Jinjiang Shares

In recent years,China's capital market has developed rapidly and its system has been continuously improved.In the domestic M & A market,the number and amount of M & A transactions have repeatedly reached new highs,and all kinds of enterprises have participated in M & A activities with unprecedented enthusiasm.Since M & A plays an important role in promoting the development of enterprises,it has been favored and valued by most enterprises.Under this trend,the M & A behavior of many listed companies in China has gradually emerged new characteristics.The increase in the frequency of M & A transactions of some listed companies is one of the more obvious phenomena,and the M& A transactions have shown a certain degree of continuity.The research object of this paper,JINJIANG SHARES,is a typical case of this kind of company.The phenomenon of continuous merger and acquisition is a new situation in the current capital market environment.Therefore,we can not simply apply the existing M & A theory to explain and analyze.In view of this,this paper,through the form of case study,makes an in-depth analysis of the continuous performance of JINJIANG SHARES in order to be able to recognize this new phenomenon more clearly.There are five chapters in this paper.The first chapter is the introduction part.This chapter firstly introduces the research background,the purpose and the significance of the research,then explains the research contentand research methods of this paper.The second chapter is the literature review and the theoretical basis.In the part of literature review,the definition of the concept,the motivation of continuous mergers and acquisitions,the performance of continuous mergers and acquisitions,as well as the current situation of research,the definition of concepts and the theoretical basis of the performance of continuous mergers and acquisitions are defined.This paper introduces the theory of M & A.The third chapter is the case of continuous mergers and acquisitions of JINJIANG SHARES,including the company profile,industry background,the process of JINJIANG SHARES continuous M & A and the analysis of the motivation of continuous M & A.Chapter 4th is the performance analysis of continuous mergers and acquisitions of JINJIANG SHARES,the market performance and financial performance are calculated and analyzed respectively.Chapter 5th is the conclusion of the study and the inspiration of cases.The conclusion of this paper is concluded by analyzing and summarizing the contents of the previous chapters,and finally,the case enlightenment is put forward.Based on the analysis,this paper holds that there are four reasons for the continuous merger and acquisition of JINJIANG SHARES,that is,speeding up the realization process of company strategy,exerting synergy effect in a larger scope,rapidly entering the market,realizing low cost and low risk expansion;Obtain economies of scale,enhance control overthe market.Market performance shows that continuous mergers and acquisitions can bring wealth effect to shareholders,and financial performance can lead to the outstanding growth ability of the company.Other aspects of capability show a process of rising first and then falling slightly.Finally,suggestions are given for other companies wishing to achieve value enhancement through mergers and acquisitions.