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摘要：Merger and Acquisition is the product of development of market economy, has played a huge role on the economic growth and the adjustment of industrial structure. 合并和收购活动的产物，市场经济的发展，对经济增长和产业结构调整起到了巨大的作用。

介绍

合并和收购活动的产物，市场经济的发展，对经济增长和产业结构调整起到了巨大的作用。企业的产业资本流向另一家企业的企业之间的兼并与收购，由一个行业到另一个行业流动，它可以有效地实现企业产权结构的调整，使社会生产要素的优化配置，从而使调整产业结构合理化轨道。因此，通过企业合并的研究，可以帮助我们深入了解企业的发展，和对未来发展趋势的企业，有一个清晰的图片。金融经济学毕业论文在本文中，我使用的案例研究中，有两个有代表性的企业并购案例，提出的合并和收购的过程和结果。并提出了一些建议，总结经验，只有企业之前和之后的M＆A，该公司可以通过M＆A的发展和完善。

Introduction

Merger and Acquisition is the product of development of market economy, has played a huge role on the economic growth and the adjustment of industrial structure. Merger and Acquisition between enterprises by an enterprise to industrial capital flow to another enterprise, by an industry flow to another industry, it can effectively realize enterprise property right structure adjustment, which made the social production elements get the optimal configuration, so as to make adjustment of industrial structure to rationalize rail. Therefore, through the study of enterprise merger, it can help us to understand enterprise development deeply, and have a clearly picture about the future development trends of the enterprise. In this paper, I use case study, with two representative enterprise merger cases, presenting the process and result of Merger and Acquisition. And put forward some suggestions that only enterprise summing up experience before and after M& A, that company can develop and improve through the M& A.

(ⅰ) Event Study Methodology (ES).
(ⅱ) Business Performance Method
(ⅲ) Case Study Methodology (CS)
Literature review
About the Merger and Acquisition (M&A)
Merger motivation
The short and long run performance
Case study methodology
Case Study Methodology
ⅰ. Efficient Market Hypothesis (EMH)
ⅱ Hubris Hypothesis
The two cases
1. The case of WorldCom
2. The case of Bankers Trust
Methodology
Results
Conclusions

References

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