The Impact Of Mergers & Acquisitions Integration On Its Performance

By mergers and acquisitions (M&A), Enterprises can expand their market share,increase their market influence, M & A also help the industry transfer the excess capacity, atthe same time, enterprises can reduce the production costs and improve the operationalefficiency due to the increased sales. M & A have become the primary ways to developmentand growth by most of domestic and international enterprises which faced with fiercecompetition in the market. M & A is booming worldwide in the current and has favorabledevelopment prospects as the encourage of government policies. However, a large number ofM & A are failure. Therefore, how to increase the performance of M&A is an important issuefaced by enterprises.Based on this confusion as well as the lack of existing theoretical research, this paperintends to research performance of M&A from the perspective of M&A integration, with thepurpose of exploring the impact mechanism of M&A integration on M&A performance toprovide theoretical support and practice advices that how to increase the M&A performance forenterprises.Using SPSS13.0, this research takes an empirical study. Based on literature review, wedesign a questionnaire according to the results of brainstorm meetings and in-depthinterviews. Then, we collect data from enterprises which have M&A, and then, we get theconclusions and implications after analyzing the collected data. The data analysis methodscontain descriptive analysis, reliability analysis, validity analysis, factor analysis, correlationanalysis, regression analysis, moderate regression analysis and etc.The results show: after the M&A, all the strategic integration, management integration,human resource integration and corporate culture integration can promote enterprise’sfinancial performance and market performance remarkably, asset and debt integration haveremarkable influence on financial performance but not on market performance. Among alltypes of integration, strategic integration influences financial performance firstly whilecorporate culture integration influences market performance firstly; what’s more, theinfluence of every integration type is different under different M&A types. Finally, based onthe research conclusions, the paper discussed the implications and areas for future research.