The Synergy Effect And Influencing Factors Study On Mergers And Acquisitions Of Enterprises

Corporate M&A is a growth strategy for enterprises to expand scale and strengthen competences aggressively. And it's also an important mechanism for achieving economic structure adjustment and resource reallocation. Until now, there have been five large-scale waves of merger and acquisitions and the last wave has lasted till now. However, we can see that most M&A activities haven't reached expected purpose and many of them have become heavy cloth-wrappers for M&A enterprises. This also stands in China. Synergy of M&A is not only one of the motives for corporate M&A, but also the key to evaluate and determine whether M&A is successful or not. So the research of synergy of M&A is of important guidance significance and practical value for the both sides of M&A. At the same time, it has far-reaching impacts on integrating resources domestically and strengthening competences of enterprises of our country in the global market. My paper has 7 chapters; Chapter1 is the introduction of the whole paper, which explicates the significance of this research, the current out come in this field, the target of this article and the method being used. Then, Chapeter2, 3, 4, 5 illustrate the operational mechanism of all kinds of synergies, the evaluation method, the relationship between synergy and premium and the effect of synergy on the fortune of shareholders respectively. Finally, it particularly discusses macro-factors and micro-factors that influence the achievement of synergy of corporate M&A in our country, expecting that it can be helpful for the implementation of M&A for enterprises of our country.