Case Study Of Traditional Enterprise Merger And Acquisition Culture Enterprise

At the opening ceremony of the APEC CEO Summit in 2014,President Xi Jinping for the first time comprehensively and systematically explained the new normal of China’s economy.As China’s economy has entered the new normal,there have been slowing economic growth and overcapacity.At the same time,with the continuous improvement of China’s economic development level,emerging industries have gradually emerged,and have been deeply into People’s Daily life.The "Internet+" business model and the business model of sharing economy have mushroomed like mushrooms after a spring rain.In the process of development,emerging industries have had a profound impact on people’s consumption concept,and the choice of consumption mode has become more diversified and modernized.The change of people’s consumption behavior pattern also has a profound impact on the development of traditional industries.For a long time,under the background of demographic dividend,China’s traditional industries have achieved rapid development by obtaining cost advantages through cheap labor,and promoted the rapid growth of China’s early economy.However,with the gradual fading of China’s demographic dividend,traditional industries have lost the basis for rapid development for a long time.Combined with the impact of emerging industries,traditional industries are eager to achieve diversified development,transformation and upgrading,and obtain long-term development powerWith the development of traditional industry meet the bottleneck period,and vigorously support the development of cultural industry,the traditional enterprise seeking in the process of the transformation and upgrading,and gradually turn eyes fell upon the cultural enterprises,by direct mature m&a cultural enterprises in the market,realize the fast transformation and upgrading and diversification development of traditional enterprise,to spread risk,to get rid of the current development predicament.Mergers and acquisitions in shandong mining machine ’interaction as an example,through the way of case analysis,to our country traditional industry mergers and acquisitions motivation and performance of the cultural industry is analyzed,according to the analysis results,the corresponding conclusion,find the enterprises are faced with the problem,further development and puts forward countermeasures and Suggestions,for the subsequent market in traditional enterprise cross-border M&A cultural enterprises provide enlightenment and reference,We will help traditional enterprises develop cross-border mergers and acquisitions,and facilitate their smooth transformation and upgrading.In this paper,first of all,the paper discusses the research background and research significance,that illustrate the macro background of research topic and want to achieve through this paper research the theory and the practical significance,research ideas and research content of this article,in this paper,using the research method,is introduced in this paper,in the process of research of innovation;Then the characteristics of cross-border mergers and acquisitions,synergistic effect theory,literature review,common performance evaluation methods are discussed.Then,a specific case is introduced to introduce the basic situation of Shandong Mining Machinery’s acquisition of Linyou Interactive.Firstly,the general situation of Shandong Mining Machinery and Linyou Interactive is briefly introduced,and then the process of merger and acquisition is introduced.Finally,the motivation of Shandong Mining Machinery’s acquisition of Linyou Interactive is analyzed in detail.The analysis of motivation is mainly discussed from the aspects of national policy,main business development,enterprise diversified development demands,etc.After the preliminary analysis of the case,it focuses on the detailed discussion of the performance of Linyou interaction in the M&A of Shandong Mining Machinery.The analysis method of M&A scorecard is mainly adopted to conduct statistical analysis on the performance of enterprises after the M&A from the perspectives of strategy,finance and internal process.Then,it analyzes the problems and causes that Shandong mining machinery will face in the subsequent development process.Finally,based on the previous analysis,the research conclusions of this paper are drawn and relevant countermeasures and suggestions are put forward.Finally,this paper points out the shortcomings of the research and research prospects.Through the study,it is found that the financial situation and development of Shandong Mining Machinery Co.,Ltd.have been improved to a certain extent during the three-year performance commitment period after the acquisition of Linyou.However,in the first year after the performance commitment period,the net profit of the target company has been significantly reduced,and the impairment of goodwill has been significantly increased,resulting in the lack of motivation for subsequent development of the company.Shandong mining machinery needs to take certain measures to enhance the follow-up development of enterprises,and effectively promote the development of enterprises’ dual main industries.The innovation of this paper is mainly reflected in the innovation of M&A performance evaluation method.At present,EVA method,accounting index method,short-term event research method and so on are commonly used in the performance analysis of M&A enterprises.Based on the analysis of M&A performance in shandong mining machine,the study mainly adopts the method of m&a scorecard,make up for the singularity of the traditional analysis method,considering the enterprise financial performance after M&A,also considered the non-financial factors of the enterprise,and through the analysis of relevant indicators reflect the synergistic effect of performance after M&A.