An Analysis Of The Impact Of M & A And Reorganization On Performance In The Perfect World

With the continuous development of China's market economy,the structural adjustment in all fields can not be separated from the word M & A and reorganization.Mergers and acquisitions can help enterprises to optimize and upgrade resources to diversify the exhibition to enhance competitiveness in the industry.As a leading enterprise with dual excellent resources of film,television and games,the perfect world completed the optimization and integration of resources in the merger and reorganization,and injected the perfect world game industry,which was previously delisted in the United States,into the country.Thus form the development strategy of film games with the same body.Therefore,the perfect world of M & A and reorganization is of great significance,which will provide direction and reference for the M & A reorganization of film game companies in China.This paper focuses on the case of assets reorganization of perfect World Co.,Ltd.,taking the asset reorganization of perfect World Game merger and acquisition to return to A-share as the main line,by taking a theoretical review of the relevant concepts and then combining with the case to carry on the concrete analysis to carry on the train of thought.First of all,review the related theoretical concepts,performance evaluation methods,and M & A motivation theory.Secondly,introduce this case company:the perfect world,from the merger side perfect global,and the merger side perfect world game two angles.Third,by adopting the event research method,the stock price of the event date is collected and the excess return rate(AR)is calculated by the formula and the cumulative excess return is calculated.Benefit rate(CAR).This paper analyzes the short-term performance of M & A by analyzing the changes of stock price before and after restructuring and the changes of AR and CAR.Next,adopt the financial index evaluation method and the non-financial index evaluation method to carry on the comprehensive performance analysis to the enterprise.On the basis of the annual report disclosed by the enterprise,the performance analysis is carried out by using the financial indicators,and through the analysis of the strategic layout and innovative development ability of the enterprise before and after the merger and acquisition,so as to judge the impact of the merger and reorganization on the performance of the enterprise.Draw a corresponding conclusion,do not give suggestions.