Research On The Influence Of Merger And Acquisition On Company Value Creation

With the acceleration of China's economic development and the transformation of the economic development model,merger and acquisition has gradually become a popular choice to expand the scale of enterprises.Both domestic and transnational merger and acquisition transactions show an active growth trend and gradually integrate with international practices.The resulting problem is a must to mergers and acquisitions and the relationship between corporate value creation and in-depth study,analysis of mergers and acquisitions and processes,the purpose of the study have shown how to make our country enterprise in the context of the complicated international economic environment and China's special economic system,through mergers and acquisitions create value for the enterprise,the enterprise comprehensive strength improved,thus can surging ahead in the fierce competition.Domestic and foreign academic research on mergers and acquisitions is too numerous to enumerate,scholars have also drawn many valuable research conclusions and Suggestions.However,there are different views on whether mergers and acquisitions can create value for companies.Therefore,aiming at this problem,this paper studies the relationship between M&A and company value creation systematically by taking the listed companies with ashare M&A in 2015 as the research sample,taking the relevant financial indicators of listed companies from 2014 to 2018 as the basis,and using the method of combining theoretical analysis with empirical research.The results show that:(1)M&A can create value for the company;(2)the stronger the relevance of merger and acquisition business is,the more conducive it is to enhancing the value of the company;(3)M&A transactions conducted by enterprises with different life cycles have different effects on value creation.Therefore,enterprises should tailor merger and acquisition plans according to their own life cycle characteristics,so as to maximize the value of the company.The research conclusion is helpful for enterprises carrying out merger and acquisition activities to scientifically formulate merger and acquisition plans,reasonably grasp merger and acquisition opportunities,correctly implement merger and acquisition means,and effectively enhance enterprise value.