Reasearch On The Merger And Acquisition Performance Of The Xin Bang Pharmaceutical

With the further deepening of economic globalization,in recent years,our country enterprise mergers and acquisitions activity in the increasingly active,on the one hand is to cope with increasingly fierce competition in overseas markets as well as the impact,on the other hand is economic globalization also brought unprecedented expansion opportunities for Chinese enterprises.Mergers and acquisitions is the realization of their own scale expansion,economic coordination,improve the international influence and competitiveness of the effective means,is the important way to realize efficient allocation of resources.But are not necessarily successful m&a,according to relevant data show that the average success rate of m&a is 40%,the failure of m&a is not only cannot achieve the original purpose of the enhancement enterprise strength,it will cause the waste of social resources.Mergers and acquisitions performance evaluation is an important way to examine whether m&a success,how to through the reasonable and effective way for enterprise mergers and acquisitions,optimizing the economic structure and industrial upgrading,improve the corporate governance structure,improve acquisition performance increase synergies,has been the government,enterprise managers,academics and the general investors to focus on important topics.From the letter states pharmaceutical mergers and open the case of medicine,in combination with the actual situation of the pharmaceutical industry,analysis of mergers and acquisitions related theories,research methods and the existing empirical analysis conclusion on the basis of the research,through the analysis of the m&a motivation of letter states pharmaceutical,methods,etc.,using the method of event study and financial indicators for the whole performance and influence factors of the acquisition has carried on the empirical research.The main structure of this paper is divided into seven chapters:the first chapter briefly introduces the research background of this paper,the relevant literature review at home and abroad,and the contents and methods of the research.The second chapter introduces the relevant theories which need to be used below,including the theoretical explanation of m&a performance and the measurement of m&a performance.The third chapter introduced thesis mainly studies the specific case,case analysis focuses on the background of m&a enterprises is introduced,that is,the analysis,m&a acquisition scheme and the the basic process of mergers and acquisitions.Chapter iv as a key section in the article,mainly using the method of event study and financial indicators respectively from the level of performance from a long-term and short-term performance to the case enterprise should carry out specific analysis on m&a activity.The fifth chapter analyzes the related factors that affect the level of m&a performance in the whole enterprise merger and acquisition process according to the above research results.Chapter 6 according to the analysis section in the previous chapter for the problem,combined with industry specific circumstances suggest improve the performance of m&a,and at the end of the limitation of research and research prospects are put forward.In general,this article on the basis of predecessors' achievements by selecting a specific case to the enterprise m&a performance of more in-depth and meticulous research,from the perspective of the specific case,to evaluate the performance of mergers and acquisitions,through the case introduces the key problems,this paper studies the increase year by year in recent years,corporate mergers and acquisitions to m&a enterprise if any role in promoting the level of performance,combined with the actual situation of enterprises put forward to raise the level of enterprise m&a performance,enhance synergies related Suggestions,to improve the pharmaceutical enterprise m&a performance level has a certain practical significance.