A Study On Market Value Management Of Enterprise Mergers

Mergers and acquisitions as a means of listed companies to market management,with the development of the wave of mergers and acquisitions,and the acquisitions of listed companies of all showed a trend of increasing the proportion of merger and acquisition activity,make more and more listed companies choose to use mergers and acquisitions on market management.From the current academic research perspective,research more focus on motivation of merger motivation,financial performance and the synergistic effect,and based on the research of mergers in the view of value management is relatively lacking.Merger activity is used to achieve the aim of the listed company management strategy,it can reduce cost and produce synergies,significantly improve the company's operating performance.This article through to ping an purchased SDB as the research object,analysis of the impact of mergers on market value,the improvement of market value management has strong practical significance.This paper is divided into six chapters.First of all,using the literature analysis method to sort out the relevant theories at home and abroad,and organize them.Secondly,the paper expounds the relationship between M & A and market capitalization management,the impact of M & A and market capitalization,and the market capitalization of M & a process,and analyzes the case based on the theory.Finally,according to the case analysis,the author puts forward relevant suggestions based on the market capitalization management angle.Study found that Ping An's merger motivation is financial monitoring in our country is strict,make such as the Ping An insurance company premium income insufficient investment,and insurance industry in the winter period,and SDB was lack of money,Ping An and its strategic complementary;on the other hand,Ping An merger not only solved the problem of the premium income reinvested,reduce the cost of the value of management,improve the enterprise's financial position,also played a very good synergistic effect,profitability and growth ability is obviously rising trend.In this article,through analysis of mergers and acquisitions motivation and merger environment adaptability,merger enterprise leadership effectiveness and merger and acquisition activity influence on market value,and on the analysis of Ping An merger SDB is using the event analysis,results show that Ping An merger SDB has significant positive effect,Ping An's market value is affected by the merger events,explain our country capital market matures,the market value of the creative ability continuously strengthen.To counter the problem of case analysis,this article from the merger case itself is put forward to strengthen risk prevention awareness;Carefully choose acquisition way;Strengthen the advice of the m&a integration,and puts forward the following Suggestions for merger and acquisition from the perspective of value management: clear property right relations and adjust the equity structure,establishing effective incentive and decision-making mechanism;Strengthen integration after the merger;Standardize the government behavior,clear positioning of the government in enterprise mergers and acquisitions;Perfect legal environment of mergers and acquisitions,intensify supervision.