The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives

Cui Zhe; Xie Jia

doi:doi:10.11648/j.ijefm.20160405.12

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The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives

Cui Zhe, Xie Jia

Published in International Journal of Economics, Finance and Management Sciences (Volume 4, Issue 5)

Received: 12 May 2016 Accepted: 27 May 2016 Published: 17 August 2016

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Abstract

The paper researches the influence on M&A performance from the perspective of the motive of enterprises mergers and acquisitions. The return on assets was selected to be the indicator to measure enterprises’ performance after mergers and acquisitions, and it functioned as the dependent variable. The paper choose the representative company's agent motivation and the motivation of the equity concentration, the ratio of stated-owned shares, the ratio of managerial ownership, the ratio of circulation shares, Tobin’s Q value and return on equity as independent variables to build the model, and analyzes its impact. The empirical results shows: the ownership concentration and the ratio of the top executives have a positive correlation with the performance of the enterprises, but not significant; The ratio of state-owned shares and the ratio of circulation shares have a negative correlation with the performance of M&A; Tobin’s Q value and return on equity have a significant positive correlation with the performance of the enterprises after M&A. The research indicates: the M&A behavior based on different motivations positively has impact on the performance of enterprises after M&A. The research and analysis of the M&A motive is beneficial to better regulate and supervise the M&A behavior and promote the development of enterprises.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 4, Issue 5)
DOI	10.11648/j.ijefm.20160405.12
Page(s)	241-249
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Private Listed Companies, Mergers and Acquisitions Incentive, Mergers and Acquisitions Performance

References

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Cui Zhe, Xie Jia. (2016). The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. International Journal of Economics, Finance and Management Sciences, 4(5), 241-249. https://doi.org/10.11648/j.ijefm.20160405.12

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ACS Style

Cui Zhe; Xie Jia. The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. Int. J. Econ. Finance Manag. Sci. 2016, 4(5), 241-249. doi: 10.11648/j.ijefm.20160405.12

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AMA Style

Cui Zhe, Xie Jia. The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. Int J Econ Finance Manag Sci. 2016;4(5):241-249. doi: 10.11648/j.ijefm.20160405.12

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@article{10.11648/j.ijefm.20160405.12,
  author = {Cui Zhe and Xie Jia},
  title = {The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {4},
  number = {5},
  pages = {241-249},
  doi = {10.11648/j.ijefm.20160405.12},
  url = {https://doi.org/10.11648/j.ijefm.20160405.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20160405.12},
  abstract = {The paper researches the influence on M&A performance from the perspective of the motive of enterprises mergers and acquisitions. The return on assets was selected to be the indicator to measure enterprises’ performance after mergers and acquisitions, and it functioned as the dependent variable. The paper choose the representative company's agent motivation and the motivation of the equity concentration, the ratio of stated-owned shares, the ratio of managerial ownership, the ratio of circulation shares, Tobin’s Q value and return on equity as independent variables to build the model, and analyzes its impact. The empirical results shows: the ownership concentration and the ratio of the top executives have a positive correlation with the performance of the enterprises, but not significant; The ratio of state-owned shares and the ratio of circulation shares have a negative correlation with the performance of M&A; Tobin’s Q value and return on equity have a significant positive correlation with the performance of the enterprises after M&A. The research indicates: the M&A behavior based on different motivations positively has impact on the performance of enterprises after M&A. The research and analysis of the M&A motive is beneficial to better regulate and supervise the M&A behavior and promote the development of enterprises.},
 year = {2016}
}

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TY  - JOUR
T1  - The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives
AU  - Cui Zhe
AU  - Xie Jia
Y1  - 2016/08/17
PY  - 2016
N1  - https://doi.org/10.11648/j.ijefm.20160405.12
DO  - 10.11648/j.ijefm.20160405.12
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 241
EP  - 249
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20160405.12
AB  - The paper researches the influence on M&A performance from the perspective of the motive of enterprises mergers and acquisitions. The return on assets was selected to be the indicator to measure enterprises’ performance after mergers and acquisitions, and it functioned as the dependent variable. The paper choose the representative company's agent motivation and the motivation of the equity concentration, the ratio of stated-owned shares, the ratio of managerial ownership, the ratio of circulation shares, Tobin’s Q value and return on equity as independent variables to build the model, and analyzes its impact. The empirical results shows: the ownership concentration and the ratio of the top executives have a positive correlation with the performance of the enterprises, but not significant; The ratio of state-owned shares and the ratio of circulation shares have a negative correlation with the performance of M&A; Tobin’s Q value and return on equity have a significant positive correlation with the performance of the enterprises after M&A. The research indicates: the M&A behavior based on different motivations positively has impact on the performance of enterprises after M&A. The research and analysis of the M&A motive is beneficial to better regulate and supervise the M&A behavior and promote the development of enterprises.
VL  - 4
IS  - 5
ER  -

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Author Information

Cui Zhe

School of Business, Nantong University, Nantong, China
Xie Jia

School of Business, Nantong University, Nantong, China

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Plain Text BibTeX RIS

APA Style

Cui Zhe, Xie Jia. (2016). The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. International Journal of Economics, Finance and Management Sciences, 4(5), 241-249. https://doi.org/10.11648/j.ijefm.20160405.12

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ACS Style

Cui Zhe; Xie Jia. The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. Int. J. Econ. Finance Manag. Sci. 2016, 4(5), 241-249. doi: 10.11648/j.ijefm.20160405.12

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AMA Style

Cui Zhe, Xie Jia. The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives. Int J Econ Finance Manag Sci. 2016;4(5):241-249. doi: 10.11648/j.ijefm.20160405.12

Copy | Download

@article{10.11648/j.ijefm.20160405.12,
  author = {Cui Zhe and Xie Jia},
  title = {The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {4},
  number = {5},
  pages = {241-249},
  doi = {10.11648/j.ijefm.20160405.12},
  url = {https://doi.org/10.11648/j.ijefm.20160405.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20160405.12},
  abstract = {The paper researches the influence on M&A performance from the perspective of the motive of enterprises mergers and acquisitions. The return on assets was selected to be the indicator to measure enterprises’ performance after mergers and acquisitions, and it functioned as the dependent variable. The paper choose the representative company's agent motivation and the motivation of the equity concentration, the ratio of stated-owned shares, the ratio of managerial ownership, the ratio of circulation shares, Tobin’s Q value and return on equity as independent variables to build the model, and analyzes its impact. The empirical results shows: the ownership concentration and the ratio of the top executives have a positive correlation with the performance of the enterprises, but not significant; The ratio of state-owned shares and the ratio of circulation shares have a negative correlation with the performance of M&A; Tobin’s Q value and return on equity have a significant positive correlation with the performance of the enterprises after M&A. The research indicates: the M&A behavior based on different motivations positively has impact on the performance of enterprises after M&A. The research and analysis of the M&A motive is beneficial to better regulate and supervise the M&A behavior and promote the development of enterprises.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - The Research of M&A Performance of Private Listing Corporation Based on Different M&A Incentives
AU  - Cui Zhe
AU  - Xie Jia
Y1  - 2016/08/17
PY  - 2016
N1  - https://doi.org/10.11648/j.ijefm.20160405.12
DO  - 10.11648/j.ijefm.20160405.12
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 241
EP  - 249
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20160405.12
AB  - The paper researches the influence on M&A performance from the perspective of the motive of enterprises mergers and acquisitions. The return on assets was selected to be the indicator to measure enterprises’ performance after mergers and acquisitions, and it functioned as the dependent variable. The paper choose the representative company's agent motivation and the motivation of the equity concentration, the ratio of stated-owned shares, the ratio of managerial ownership, the ratio of circulation shares, Tobin’s Q value and return on equity as independent variables to build the model, and analyzes its impact. The empirical results shows: the ownership concentration and the ratio of the top executives have a positive correlation with the performance of the enterprises, but not significant; The ratio of state-owned shares and the ratio of circulation shares have a negative correlation with the performance of M&A; Tobin’s Q value and return on equity have a significant positive correlation with the performance of the enterprises after M&A. The research indicates: the M&A behavior based on different motivations positively has impact on the performance of enterprises after M&A. The research and analysis of the M&A motive is beneficial to better regulate and supervise the M&A behavior and promote the development of enterprises.
VL  - 4
IS  - 5
ER  -

Copy | Download