Study on Related Merger Performance in Financial Perspective

摘要

Based on 320 listed firms engaged in M&A in SSE and SZSE between 2006 and 2007, our study selects 11 financial ratios and investigates their impact on related merger performances. The empirical evidence indicates that size of related merger is positively associated with firm performance, while pre-merger ROE is inversely related to it. Our results contribute to related merger studies by exploring post-merger performance and influencing factors and have relevant implications for policy maker, regulators, and corporate reformers.