Empirical research on the value creation of merger acquisition — Data from Chinese listed companies

摘要

As the main form of an external way to grow, the advantage of M&A lies in its ability to enable enterprises to achieve rapid growth, that is M&A can bring enterprises value creation. However, it's actually not the case. This paper selects 58 valid samples for analysis from 118 M&A events of Chinese listed companies in 2008, studies M&A value creation following two steps: all the M&A samples are studied first and the integration effect of the different types of M&A are compared respectively; the data used is the 2008–2011 annual report of listed companies in China, with the aim of M&A value creation analysis of listed companies in China in recent years by using Principal Component Analysis.