The Research On The Motivation And Performance Of Domestic Listed Companies In Merging Military Enterprises Based On Diversification Strategy

Since the military and civilian integration became a national strategy in 2015,the policy of civilian military service has been gradually improved,the pace of military assets securitization has been significantly accelerated,and the mergers and acquisitions in the military industry has ushered in a climax.Under this background,listed companies with flexible investment decisions and rich financing channels play a decisive role in the reform of assets acquisition and reorganization in the military industry.Capital markets in recent years in mergers and acquisitions,military assets mark its own core technology of the high threshold,relatively closed and sales channels,has become the focus on mergers and acquisitions of stars,it is because of the trend is emerging in recent years,the relevant academic research is less,so the study of this problem is has the certain practical significance.The research content of this article is based on the strategy of diversifying the motivation and performance of listed company merger and acquisition military enterprise,begin from combing industry development course and the present situation,military industrial enterprises of the listed company M&A cases were analyzed,according to screen out the mergers and acquisitions of listed companies based on the M&A strategy of diversifying the purpose of sample,and sample from mergers and acquisitions of subdivision industry,scale of mergers and acquisitions,mergers and acquisitions of listed companies before and after the capital market performance and key financial indicators before and after mergers and acquisitions of listed companies changes in multiple dimensions,such as statistical analysis,Summarizing and summarizing the motivations of M&A mainly include responding to the strategic development requirements of the country,industrial layout and performance growth needs of listed companies,and maintaining its own level at a high level.At the same time,according to the statistical analysis of samples,the research conclusion of the increase of M&A performance is drawn.Then,this paper selected Tellhow Sci-Tech Co.,Ltd merger and acquisition of Shanghai hongsheng project as a typical case to further refined the study,through the macro analysis,event study method,financial index study method of three aspects of enterprise mergers and acquisitions motivation and short-term m&a performance of the key research analysis.At the end of this paper,the relevant conclusions are drawn on the basis of the above research,and some Suggestions and Suggestions are put forward for the military industry mergers and acquisitions,and the limitations of the research are summarized.