Mergers Synergy of Listed Corporation Based on Chinese Data

摘要

During the last several years, many Chinese corporations started their mergers and acquisitions steps abroad in order to acquit the market, import the modern management function and the investment, in the meantime of the quickly developing of Chinese economic and capital market. Moreover, the international economic crisis, which takes a great press on many multinational corporation, brings the Chinese listed corporation an excellent chance. However, do the mergers and acquisitions really improve the corporations' performance? Does the synergy included in the formula "1+1>2" really exist in Chinese mergers and acquisitions? What factors affect this synergy? This research will answer these questions in the view of relative benefit and relative risk by using qualitative analysis and quantitative analysis based on Chinese listed corporation data.