Research On The Influence Of Payment Method On The M&A Performance Of Listed Companiese

Faced with increasing competition pressure,after completing the original internal accumulation,the company is more inclined to adopt the method of mergers and acquisitions in the expansion phase,hoping to quickly expand the company's operating scale in a short period of time,improve operating efficiency,and play a coordinated effect to a certain extent And to further achieve economies of scale and promote rapid development of enterprises,more and more enterprises choose mergers and acquisitions to expand the scale of operations.Although China's M & A activity started later than Western countries,with the gradual improvement of the market economy system in China and the successful completion of the share split reform,China's M & A market began to move on the right track and become increasingly prosperous.In corporate M & A activities,different payment methods will not only affect the capital,assets and ownership structure of the main M & A company,but also affect the company 's future strategic goals and operating policies.In the long run,these factors will also have a significant impact on the company's future M & A performance.In order to better achieve the goal of M & A,promote the improvement of M & A performance,and make the main M & A company develop better,the choice of payment method is particularly important.Therefore,it is necessary to carry out in-depth exploration and research to select the appropriate payment method for the company's future M & A activities and improve the operating performance of the main M & A company.Based on the analysis of the research results of scholars at home and abroad,this article constructs the research framework of this article,and the specific arrangements are as follows: The first chapter of the introduction section first describes the research background and significance of the article,and secondly,the relevant research content at home and abroad Conducted a literature review,then summarized the research content and methods of this article,and finally analyzed the innovations and deficiencies of the article;Chapter 2 defines related concepts: M & A,M & A payment methods,M & A performance,and payment The theory of the way influencing M & A performance is discussed;Chapter III analyzes the measurement methods of M & A performance: event research method,financial indicator research method,case study method,and explores the pros and cons of each method separately,and finally selects the financial indicator research method as the article The fourth chapter is the empirical analysis of this article.It firstly expounds the research design of this part,followed by the factor analysis method for empirical research,then analyzes the empirical results,and finally the multiple regression of M & A performance under different payment methods Analysis;Chapter 5 is the article's research conclusions and related Suggestions.The research results show that the choice of M & A payment methods is particularly important,and the difference in payment methods will significantly affect the M & A performance of the main M & A company.Specifically,the main M & A companies that use cash payment methods in M & A are unlikely to significantly improve their M & A performance;while the main M & A companies that use stock payment methods have significantly improved their M & A performance.According to the empirical results of the article,in order to better improve the merger and acquisition performance of the main merger and acquisition company,this article puts forward suggestions that should give priority to the stock payment method,pay attention to the related transactions in the merger and acquisition and improve the management efficiency of the company,and improve the rules and regulations of the merger and acquisition market.