Research On The Performance Of M & A Under The Model Of "PE + Listed Companies"

"PE + listed companies" M & a mode first appeared in China in 2012.Since then,more and more companies have chosen this mode to complete their own development and expansion.In 2018,the number of M & a funds in China reached 406,39 times more than in 2013.At present,the research of M & A mode in China mainly focuses on two aspects: M & a motivation and operation mode.This paper makes a detailed study on the listed companies' performance M & A mode of "PE + listed companies".First of all,this paper analyzes the listed companies that adopted this model in 2017 through the financial index analysis method.It is found that most of the listed companies in our country will adopt the limited partnership fund for M & A,and the limited partnership fund and the contractual fund for M & A can bring more obvious positive effects to the listed companies.The positive response of the corporate fund for M & A to the listed companies is not obvious.In addition,taking Sunbird's merger and acquisition of sub optoelectronics as an example,this paper makes a comparative analysis of the stock price fluctuation,the financial index changes of four capabilities before and after the merger and acquisition and the EVA value before and after the merger and acquisition of listed companies.It is found that the announcement of the establishment of merger and acquisition fund can bring a positive response to the company in a short period of time and attract market attention.After the merger and acquisition of listed companies,the company The company's profitability,debt paying ability,operation ability and development ability have been improved to varying degrees.At the same time,the EVA value of listed company Sunbird has increased significantly after the completion of M & A activities,which shows that the "PE + listed company" M & A model can help listed companies improve their business conditions and become a powerful driving force for the company's development.Through research and analysis,this paper puts forward corresponding countermeasures and suggestions for the listed companies that want to adopt this model for M & A,so as to reduce the potential risks when the relevant companies use this model.