Research on the Motivation and Performance of Mergers and Acquisitions of Forestry Listed Companies—A Case Study on Yongan Forestry's M&A of Senyuan Furniture
This paper takes Yong'an Forestry's M&A of Senyuan Furniture as the research object,and analyzes the motivation and performance of M&A.In terms of methods,the event study method and financial index method are used to examine the market and financial performance respectively.From the results,the market reaction of this M&A is relatively good,and investors are optimistic about the situation;the debt paying ability and inventory turnover ability have been significantly improved,and the overall performance is good,which provides a reference for mergers and acquisitions of other forestry companies.At the same time,in view of the decline in the turnover capacity of accounts receivable and the slow growth of shareholder value,this paper proposes to revitalize current assets and activate new profit points of the value chain.
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