Sustainable Study On M&A Of A Share In Shanghai

With the continuous maturity of our security and capital market, the M&A developed largely in recent years. Because the security market is open, the M&A activities are specially noted if a company listed participates in, especially among companies listed. What about the M&A performance, sustainable or not, why so large difference on M&A performance and the performance sustainability between different companies, how to improve, all the questions above are very important on improving M&A quality, improving the operating efficiency, raising society fortune. Sixteen companies selected as samples randomly which listed in Shanghai, M&A in 1998 and divided into four groups according to different M&A modes. Seven financial indexes adopted herein, which are from 1999 to 2002 on four aspects of debt-paying ability, profit-making ability, fortune-creating ability and operate-sustaining ability which set up to evaluate the M&A performance sustainability. The result is that the 16 sample M&A companies are not good at sustainable, sustainable of four M&A modes is quite different from each other totally, sustainable of each sample companies under the same M&A mode is different from each other differently. The performance will be sustainable only when persisting market-guided and making strategic decision carefully.