Financial Synergy Effect Of M&A Of Listed Companies In China Based On Composite System Synergy Model

With the continuous development of economy,China’s economy is in the critical period of industrial restructuring,and the mergers and acquisitions of domestic capital market are increasingly frequent.Acquiring financial synergy effect of M&A is the motive for enterprises to implement M&A activities.Whether acquiring financial synergy effect of M&A is an important criterion to measure the success of M&A activities.However,many scholars believe that the short time of M&A activities,the imperfect capital market mechanism and immature practical experience in China lead to the chaos of M&A market,so the success rate of M&A is low.This paper will study the current situation of M&A of domestic enterprises,find out its problems through in-depth analysis,put forward suggestions for domestic enterprises to carry out M&A activities,and guide the further improvement and development of domestic capital market.Based on the theory of synergy,this paper takes the domestic M&A as the research object,and uses the method of qualitative analysis and quantitative research to carry out the research.Firstly,from a new perspective,M&A companies and target companies are regarded as two subsystems under the whole group.The selected financial indicators are processed and analyzed by factor analysis method.The synergy degree model of composite system is applied to M&A fields from other fields.Then the comprehensive score results of index processing are brought into the model,and the conclusion is drawn that domestic enterprises can obtain M&A financial synergy.The conclusion of the overall effect.The research results show that in the short term,the order degree of both sides of M&A fluctuates greatly.From the perspective of the composite system composed of both sides of M&A,the order degree of one side increases while the order degree of the other side does not increase or even decrease at the same time.The two sides of M&A are not in a good synergy state or there is no synergy at all,that is,the whole system does not play a positive role.The synergistic effect of purchasing finance.Through research and analysis,this paper concludes that the fundamental reason for the lack of financial synergy is that in a short period of time,the positive impact of M&A activities on both sides of M&A is staggered,and the positive impact of M&A integration has not yet been highlighted.Subsequently,combined with specific M&A cases,this paper puts forward feasible suggestions for enterprises to implement successful M&A,and promotes the healthy development of capital market and the successful transformation of industrial structure.