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| A Study of M & A Performance Based on Different M & A Categories |
| SHENG Ming quan1,ZHANG Chun qiang2 |
| 1. 2. Anhui University of Science &Technology |
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Abstract This article analyzes the value effect of different M & A categories including the diversified and the non-diversified M & A. We find that when the performance is getting better, managers tend to make a strategic decision of M&A; in the short term after diversified M & A, when the enterprise faces a new industry, integration is needed. However, our enterprises are short of integration ability, so the performance will decline. After effective integration, the exertion of synergy and diversification of business risk will improve the performance. The performance of non-diversified M & A will decline year by year because of the duality of ownership structure and the duality of government role in our country. The non-diversified M & A can not lead to scale effect and economies of scope.
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Received: 21 March 2011
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Corresponding Authors:
SHENG Ming quan
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2011, Vol. 1 
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