Empirical Study Based on Factor Analysis of M&A Performance in Listed High-tech Enterprises

This test put merger and acquisition (M&A) events in listed high-tech enterprises in 2005 as a sample of research, and select 12 financial indicators which used to measure the performance of M&A, using factor analysis method. investigate the changes in performance years before and after the M&A espectively in units of overall sample and classified ample companies. The results show that; there is a first rose and then down process of the performance in the mass in the listed high-tech enterprises years before and after M&A, improving the performance of the company to a certain extent, but there is no significant difference between each year; their industry relevance,ownership structure, relative size of M&A,whether they are the related-party transactions and so on produce varying degrees of M&A performance; tech sector M&A activities of listed companies are mostly short-term behavior, and there is less technological factors in M&A.