The Influence of Listed Company’s Ownership Structure on M&A Performance

DOI

10.2991/aebmr.k.201211.072How to use a DOI?

Keywords

Ownership structure, M&A, Tobin’s Q Ratio, M&A performance

Abstract

This paper selects the listed companies in China that successfully completed M&A in 2016 as samples to investigate the influence of ownership structure on corporate M&A performance-Tobin’s Q Ratio. The empirical regression results show that the degree of ownership concentration and the degree of ownership balance have a positive impact on the value of a company after M&A; The negative effect of state shares ratio on the value of the company after M&A is not significant; However, corporate shares ratio have a significant positive effect; At the same time, management shareholding can also have a positive impact on the short-term M&A performance.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiaotong Chen
AU  - Yucan Liu
PY  - 2020
DA  - 2020/12/14
TI  - The Influence of Listed Company’s Ownership Structure on M&A Performance
BT  - Proceedings of the Fifth International Conference on Economic and Business Management (FEBM 2020)
PB  - Atlantis Press
SP  - 420
EP  - 425
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.201211.072
DO  - 10.2991/aebmr.k.201211.072
ID  - Chen2020
ER  -