Performance of Mergers and Acquisitions under Corporate Governance PerspectiveReport as inadecuate




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This paper investigates the impact ofmergers and acquisitions M&A on corporate performance.This article selects 36 M&A cases of China’s listed real estate companiesin Shanghai and Shenzhen Stock Exchanges from 2008 to 2009. Regarding thecorporate value in 2011 as the measure of the long-term performance, we willexplore the relationship among check-and-balance Ownership Structure, board size,and institutional investors impact the performance. This paper concludes apositive impact ownership structure on the M&Aperformance. In addition, the empirical analysis reveals that that the boardsize has a significant negative effect on the performance. Additionally, theresults of the paper indicate that the CEO-Chairman duality has a significantimpact on the long-term performance. Besides, institutional investors havepositive effect on M&A performance.

KEYWORDS

Corporate Governance; M&A; Long-Term Performance; Real Estate

Cite this paper

Liu, Y. and Wang, Y. 2013 Performance of Mergers and Acquisitions under Corporate Governance Perspective. Open Journal of Social Sciences, 1, 17-25. doi: 10.4236-jss.2013.17004.





Author: Yong Liu, Yongqing Wang

Source: http://www.scirp.org/



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