Research On Effects Of M&A In China's Stock Market

A very strong M&A wave had swept over China in 2006,but,whether increase earnings for shareholders,create benefit for corporation,bring value for the society after M&A?When more and more corporations took part in the tide of M&A,can these cases really improve operation performance,this kind question can attributed to mergers and acquisitions on performance assessment.This question has been more and more attention of scholars,they used different methods,from different angles to analyze the problem,but also different conclusion.The whole text uses the Accounting Research Method,as the sample which M&A in Shenzhen and Shanghai stock market in 2006,through mergers and acquisitions of listed companies in China before and after the operating results of synthetic score compared to what happened on the 2006 case of M&A was evaluated at the same time,in accordance with the different types of M&A effect on the research,found that mergers and acquisitions in the short term decline in business performance,and the differences are significant,but for a long time,M&A business made the positive effects.For equity in terms of M&A and asset acquisitions,M&A for equity business has created a wealth effect,asset acquisitions are ineffective,for under the same control of the business combination and under the different control of the business combination,under the same control of the business combination have brought the integration of business success,under the different control of the business combination will be less than satisfactory.Can be seen that the different M&A was also played a crucial role in the effects.Through empirical analysis,as the conclusions, because of the lack of a complete set of M&A concepts,ideas,procedures,many acquisitions cases do not complete or unsuccessful.From the micro level, before the enterprise's M&A, must fully examine own management capacity and technical level,use reasonable ways,it is necessary to attach importance to the prevention of financial risk and control,strengthen financial integration after the M&A.Enterprise management should be strengthened the accumulation of knowledge and experience; from a macro level,to accelerate the pace of economic reform and standardize the M&A intermediary institutions,M&A to improve the law and so on,these measures will make M&A success have a positive impact.