The purpose of this study is to examine the brand image and county of manufacture(COM) effect on brand luxury index, especially when the acquirer brand is afflicted by a low brand image and the acquired brand enjoys a high brand image. There were 248 responses in Taiwan (low image differences were gathered from 119 respondents and high image differences were gathered from 129 respondents). The results indicate that brand image have a positive influence on every dimension of brand luxury, while the better the luxury brand image acquired by one with an inferior image, the more the brand luxury will increase. Regarding the COM effect, the better COM image the acquirer move to, the more the brand luxury will increase. In addition, brand image and COM have interactive effect.

Based on the financial report data from 2007 to 2014 reported by non-financial listing Corporations which listed on China's A shares, studying the impact the M&As' goodwill on the corporation performance and analyzing the regulation effects the acquirer’s property right played on the relationship between the goodwill and the company performance. We found that M&As' goodwill has significant effects on the performance of the combined party in current and lagged period, with no obvious correlation between the company's performance of the second, three or four and five period, but in the sixth period both have a significant negative correlation. Further studies have found that comparing with state-owned enterprises, the goodwill cost paid by the private listed enterprises has a bigger impact to improve the performance of the acquire.