The Research Of Chinese Steel Industry To Be Listed Mergers And Acquisitions Of Performance

China is currently in the process of comprehensively promoting new industrialization and building a conservation-oriented society phase, iron and steel industry is to promote sound and rapid development of China's national economic pillar based industries. However, China's steel industry at this stage there is a low degree of industrial concentration, the product structure is irrational, backward excess capacity and other structural defects highlighted inhibit the healthy development of China's steel industry, severely restricts the overall competitiveness of China's iron and steel industry upgrading. From the global steel industry, China's steel enterprises exist many practical problems, and affect the whole industry to achieve sustainable development of all defects, almost all M & A and iron and steel promote the slow inextricably linked directly, whether the steel industry or each province and a number of steel iron and steel enterprises are widespread low industrial concentration, firm size, small, low value-added product innovation, eliminate backward production capacity of the task and so on, these disadvantages is very conducive to the current background of economic globalization industry competition under. China's steel industry in crisis, not only with the external market environment of dramatic change, but also with China's steel industry itself exist many problems, this paper analyzed the iron and steel enterprises to promote Binggou reorganization of motives, and the accountancy Event Study (Financial Data Act ) as the starting point, selected to reflect the steel industry companies (including the acquisition of the company and the target company) before and after merger-related operating performance indicators, this occurred in recent years in China M & A events in the performance of some steel companies empirical study changes , based on empirical research derived iron and steel enterprises in China after the merger did not achieve its operating performance improved accordingly concluded, for this phenomenon, according to China Iron and Steel Industry and its characteristics, analyzes the acquisition was not expected to improve the performance reasons, and analyze the reasons put forward after the attempt to achieve China's steel industry mergers and acquisitions of listed companies an effective way to improve performance.