Research On The Performance Of AK Company M&A ZP Company

With the development of market economy and the intensification of competition in our country,a large number of companies have chosen to improve their own strength and economic benefits by merging other companies.One of the primary causes of M&A is the development of enterprises.However,can M&A activities enhance the competitiveness of enterprises,and then bring impact on enterprise value?With the development of M&A activities,people have come to realize that M&A is a double-edged sword,which includes both unlimited opportunities and endless risks.In order to measure the result of M&A,people began to study the performance of mergers and acquisitions.The study of M&A activity and its performance has a guiding significance for enterprises to establish the performance evaluation system as well as the development of the future merger and acquisition activities.As an important part of China's strategic emerging industries,biomedical industry has always been the focus of our national.M&A has become one of the most important means of industrial integration and industrial development in China.In this context,this paper selects the leader of the Anhui biomedical industry——AK company as the research object.By using the method of accounting research and event study,this paper analyzes the performance change of AK company merger and acquisition ZP company.For the future merger and acquisition of AK company,it has some reference significance.This paper is divided into six parts,the first part starting from the research background and research significance,summarized the principle of M&A and the literature performance of M&A,explain the ideas and content of this research,the innovation of this paper;theory part is the second part of this paper,mainly expounds the concept of M&A,the acquisitions of mergers and the financial performance evaluation methods of merger;the third part,first introduce both sides of the mergers and acquisitions,and then introduced the merger acquisition process of AK company and ZP company;The fourth part analyzes the performance change of AK company after the M&A of ZP company from the following three aspects,that is,the influence of M&A on the efficiency of the enterprise,the shareholder's benefit and the social performance.The fifth part introduces the successful experience and shortcomings of AK company's M&A of ZP company,then puts forward some suggestions;The sixth part summarizes the performance changes of AK company M&A ZP company and the revelation brought by the merger and acquisition.The paper selected AK company,as a local private pharmaceutical company in Anhui,is very representative in the industry.The biopharmaceutical industry as a national strategic development industry,has a bright prospects.In this paper,though a comprehensive analysis of the performance of M&A,with the method of accounting research and event study can provide a reference for the development of biopharmaceutical industry;In this paper,I adopt a single case study method,which is different from the academic research on the whole industry.The single case study of AK company merger with ZP company is more targeted.And for the future merger and acquisition activities of AK company,it is also more meaningful.