The North And The South CAR Mergers And Acquisitions Of Financial Synergy Effect Rearch

In order to promote economic development in our country,make its have a place in the world,to implement the "area" and "going out" strategy,the state raised a hot wave restructuring.The car as a domestic rail transit industry monopoly,natural obligation to assist domestic product transportation to go out,will show the image of the global domestic,so the car became the object of the first batch of merger,acquisition and reorganization.This article is a case analysis model to analysis CRRC Corporation Limited after merger motivation and financial financial synergy effect as the goal.In the first place in the literature review of merger,acquisition and reorganization and the financial synergy research status at home and abroad were reviewed and analyzed;Secondly introduces theory of merger,acquisition and reorganization,restructuring motivation,synergy theory and classification,the concept of financial synergies,produce condition and realization method of financial strategy matrix theory;Finally from the financial capacity promotion effect analysis,selection of the enterprise operation ability,debt paying ability,growth ability and profitability four aspects analysis,based on the analysis of growth ability,the article also used the car all financial matrix method to analyze whether the long-term sustainable development ability;Effects of cash flow analysis,the operating activities cash flow,financing activities,investment activities cash flow cash flow Angle of three layers of cash flow effect;Higher income and tax effect analysis of the four big events overall financial synergies.Through the analysis of the full text,the car after the merger,acquisition and reorganization will markedly enhance its capability of financial,the cash flow level improved before m&a,operating income has increased,shows that the combined car made in financial synergy effect is obvious.Hope the merger of the research of this case,can provide a reference for the next largest m&a cases: the civil car merger should strengthen the recognition and control risks;Provide new ideas for the reform of state-owned enterprises.