Empirical Analysis of Chinese Listed Companies Cross-border Mergers and Acquisitions Performance

Based on the selected sample of 25 cross-border mergers and acquisitions (M&A) cases between 2003-2008, an empirical analysis is carried out to know about cross-border M&A performance of Chinese listed companies. According to the research on these listed companies that have cross-border M&A, it is evident that the performance for the year of M&A is indeed improved. On the contrary, one or two years after the M&A, the performance of these listed companies was declined. Furthermore, the unstable performance of cross-border M&A lies in the inadequate ability to arrange M&A. Consequently, some pertinent suggestions have been provided such as reinforce of internal industrial capital concentration, proper M&A strategies and improvement of domestic M&A ability. Then the cross-border M&A performance of Chinese listed companies could be enhanced.