Study On The Performance Evaluation Of JD Mergers And Acquisitions JY Cement Business

There are many reasons for enterprises to make merger and acquisition decisions.The proper merger and acquisition plan is conducive to the development of enterprises and also promotes the industry environment.The cement industry,one of the pillar industries of the national economy,carbon dioxide emissions can not be ignored.At present,our country is gradually increasing the input of environmental protection,more restrictions on the cup-peak production of cement building materials industry,but also formulated a series of related policies,in order to guide the cement industry companies merger and acquisition and restructuring,thus changing the competition pattern in the industry.Cement industry entry threshold thus greatly increased.Under such a background,the analysis of the typical example of mergers and acquisitions in our cement industry can play a certain role in the future mergers and acquisitions of similar companies in our country.This paper selects the case of JD Company’s merger and acquisition of JY Company’s cement business for analysis and research,and comprehensively uses literature research method,comparative analysis method and case study method to evaluate the performance of this merger and acquisition activity.First of all,the research background,research purpose and significance,the current domestic and foreign academic literature and the research content and methods used in the paper are fully reviewed,and the performance and theories related to M&A are introduced.Secondly,according to the development of cement industry and the current situation of merger and acquisition,combined with the theory of signal transmission,market power theory,synergistic effect theory,in-depth discussion of JD company’s merger and acquisition motivation.Thirdly,based on the short-term and long-term effects brought by M&A,this paper uses event study method to evaluate the short-term financial performance brought by M&A,uses financial index method and EVA method to evaluate the long-term financial performance brought by M&A,and also studies the non-financial performance of technological innovation and market share.The analysis shows that the merger and acquisition of JD company has brought the increase of shareholders’ wealth in the short term,realized the short-term synergistic effect,expanded the business scale of the enterprise,and effectively solved the internal problems of industry competition,and formed a long-term promoting effect on the financial performance within a certain time range.Finally,combining with the results of this case study,the author summarizes the suggestions after JD Company’s merger and acquisition and the inspiration for the industry’s merger and acquisition.Meanwhile,it can also be used as a reference for other cement enterprises in the implementation of merger and acquisition integration,and adds content for the performance evaluation of enterprise merger and acquisition.