The Empirical Research Of M&A Performance Of Listed Companies Of Real Estate In Our Country

In recent years, the rapid growth of Chinese economy drives the rapid development of the real estate industry, the real estate industry has also been an unprecedented prosperity, and gradually become carrying one of the most important industry of China’s economic growth. But rapid development at the same time also with the growing competition, facing the current real estate market competition, real estate enterprises have to constantly explore in the way of the survival and development under the new situation, the merger, acquisition and reorganization is an effective way to achieve rapid expansion of the industry and development, can help enterprises to quickly get rid of the plight. Merger, acquisition and reorganization by promoting trade both sides of the main resources and capital concentration, thereby giving impetus to the upgrade of industrial structure and resource optimization configuration, achieve economies of scale. Therefore, mergers and acquisitions become our country real estate listed companies expand, growing strength of the most important way.The active of the M&A market drove the rapid development of M&A theory research. Foreign scholars study of M&A has A long history, the research conclusion rich variety, and scholars to study on M&A has more than 20 years of experience, this article on the basis of domestic and foreign scholars about the theory of M&A, further the relevant theories of M&A, and connecting with the present situation of our country in the course of real estate companies mergers and acquisitions, mergers and acquisitions and mergers and acquisitions, in China’s a-share market in 2010 deals of 76 real estate listed companies as research samples, collected in 2009-2013, five years of financial data, using 18 financial indexes to establish M&A performance evaluation system, and then, using factor analysis method to calculate the real estate the average comprehensive performance scores before and after mergers and acquisitions of listed companies, and to judge the trend of the change of M&A performance, finally it is concluded that the empirical results.From the results of the study showed that mergers and acquisitions that year and M&A performance fell sharply during the first year, the year after the merger start falling slowly, until the third year began to rebound sharply. This shows that most of current our country real estate listed company merger and acquisition performance after a period of time will have rebounded, mergers and acquisitions company corresponding competitive advantage will gradually emerge.