Empirical study on MA performance and corresponding factors of coal listed companies in our country

摘要

This paper investigates the M&A performance of coal listed companies in our country that experienced M&A from the years 2008 to 2012. The factor analysis method and comparative analysis method are employed and further the multiple regression analysis is used to identify the important factors for short-term M&A performance. The results show that the performance of coal companies in our country is little improved in the short-term, but the long-term performance is enhanced. Moreover, the short-term M&A performance has a prominent positive correlation with horizontal M&A, cash payment, scale of assets and M&A.