Research of M&A Performance of Listed Companies in China Based on EVA

Researching on and verifying M&A performance of listed companies has both theoretical and practical significance. This paper analyzed existing problems of previous researches and introduced EVA (economic value added) as well as rate of EVA as performance evaluation indexes. This paper took the M&A events of China 2002 as samples, studied and analyzed the changes of EVA index with the enterprises in the three years before M&A and the year of M&A and the four years after M&A, and thus investigated the medium or long-term performance of M&A with Chinese listed companies. The research indicated that M&A performance of Chinese listed companies rose up significantly in a short term but the long-term performance was not significant.