Research On Oversea M & A Performance Of China’s Environmental Protection Industry Listed Companies

In recent years,more and more attention has been paid to environmental problems.After the introduction of a series of environmental protection policies,the environmental protection industry has developed rapidly.With the continuous expansion of their own strength and the increasingly fierce competition in the domestic market,many enterprises focus on overseas enterprises,hoping to improve their technology and open up foreign markets through mergers and acquisitions in order to seize the favorable position of the environmental protection market.In this environment,starting from 2015,C hina’s environmental protection industry listed companies began a large-scale wave of overseas mergers and acquisitions,and mergers and acquisitions in 2016 have improved from the number and size compared with the year 2015,for a period of time in the foreseeable future,the wave of overseas mergers and acquisitions in the environmental industry will continue.However,overseas mergers and acquisitions is a high-risk activities,we can not help asking these environmental protection companies what are the results of these mergers and acquisitions,whether the outcomes achieve the initial expectations,whether they bring a return to the enterprise and shareholders,and a series of such questions.This paper first reviews the research results of foreign experts and scholars on the performance of overseas mergers and acquisitions,as well as the factors that affect the performance of mergers and acquisitions.And then analyzes the status and the characteristics of overseas mergers and acquisitions of Listed Companies in C hina’s environmental protection industry,for example,the main purpose of the foreign mergers and acquisitions of environmental protection enterprises is to acquire technology.Then this paper introduces the methods used to evaluate M & A performance,the entropy weight evaluation method,and introduced the selection of each index in the evaluation system and the calculation of the performance in detail,then analyzes the macro and micro factors that may affect the performance of M & A at the same time.Then this paper chooses the case of SafBon Water acquires Austria KWI as the case to do the empirical analysis,by comparing the performance with other overseas mergers and acquisitions of other listed companies in China’s environmental protection industry,and we made the conclusions that the acquisition of the merger greatly enhance the comprehensive strength of the SafBon water,the M & A performance is significant.In order to improve the performance of Listed Companies in China’s environmental protection industry,this paper puts forward some relevant suggestions from the perspective of enterprises.