Research On Reorganization Of Financial Resource After M&A

Whether the corporation can reorganize successfully after M&A is the key factor that determine the success of M&A, many researchers has done quite a lot of research on corporation culture and human resource, but financial resource as one of the most important resource, the research on the reorganize of which is comparatively less, this article will do some research on the reorganization of financial resource under the view of internal capital market.This article departs four chapters to analysis the reorganization of financial resource after M&A.Chapter l,we summarize the actuality and theory of M&A, point out that the reorganization is key factor of M&A, further more we analyze the actuality research of reorganization, and fix on the internal capital market view to investigate the reorganization after M&A. Chapter 2, we systematically summarize the theory of internal capital market, analyze how to reorganize the financial resources efficiently with the help of the theory of internal capital market, and analyze the cost and efficiency, information and agent problem of internal capital market, boundary between internal capital market and external capital market. Demonstrate that the internal capital market is an efficient way to deploy the financial resource of a corporation. One corporation can centralize quite a lot of financial resource of several corporations by the way of M&A.Internal capital market works for maximize the value of a corporation. Chapter 3,we investigate the reorganization of financial resource after M&A deeply, analyze the practice of financial corporation in and out of the country, point out that the internal financial corporation can fulfill the effect of internal capital market, and analyze the law basement and feasibility of the foundation of internal capital market in our country. Demonstrate that the foundation of internal capital market in our country is feasible. Chapter 4,summarize the whole article, point out the innovation, shortage and the further research of this article.