Multi-case Study On Equity Payment And Compensation Effects In Mergers And Acquisitions

M & A and reorganization is an important way to optimize enterprise resource allocation.In recent years,a large number of M & A and reorganization activities have occurred in my country.In enterprise M & A activities,the M & A payment method and whether performance compensation is an important factor in the M & A program.Different M & A payment methods and performance compensation have different effects on the M & A effect of enterprises.Therefore,the research on the equity payment effect and performance compensation effect in M & A restructuring will help enterprises to formulate more suitable M& A programs in actual M & A activities and accelerate Mergers and acquisitions integration.The thesis first sorts out the related literatures of equity payment effect and performance compensation effect,introduces the relevant theoretical basis of the research,and constructs a theoretical framework for the research of equity payment effect and performance compensation effect,and determines the research sample based on the theoretical research framework.When studying the effect of equity payment,335 samples were selected.First,the effects of different equity payment methods on M & A premium and M & A performance were studied through case analysis.Based on the analysis of individual cases,a statistical test of the impact of equity payment on M & A premium and M & A performance was carried out.The research results show that the equity payment method has a positive impact on M & A premium and M & A performance.In the study of performance compensation effects,118 samples were selected.First,the effect of performance compensation on M & A premium and M & A performance was analyzed through a case study.Then through statistical tests,the effect of performance compensation on M & A premium and M & A performance is further verified.The analysis results show that performance compensation has a positive impact on M& A premium and M & A performance.Through the research of the paper,it is found that the equity payment method and the performance compensation in the M & A activities have a significant impact on the performance of the M & A.M & A activities provide guidance to further improve corporate M & A theory.