Performance Evaluation Of Enterprise M & A Based On

With the continuous development of economic, financial and technical strength, mergers and acquisitions in the listed company to achieve industrial upgrading, optimize the allocation of resources and respond to changing market environment, such as the role of more and more important.So, the scholars at home and abroad in order to explore the merger will create value for enterprises and improve business performance, began their research on m&a performance.Choose what kind of evaluation method, however, will produce very big effect on m&a performance results. So, choose what kind of method can better reflect the enterprise m&a performance, became the scholar of the eternal topic.Traditional performance evaluation methods of mergers and acquisitions will focus and focus on the financial factors of the evaluation, after the merger of revenues, profits and other financial indicators very seriously, but often ignored the customer relations, internal processes, human resources and other non-financial factors on the performance of the study, the influence of the disadvantages of traditional performance evaluation method is revealed.The balanced scorecard in the performance evaluation of m&a to join the non-financial indicators, is no longer only focus on financial aspects of the situation after the merger, will also be customer level after the merger, internal processes and other non-financial factors into the performance evaluation of mergers and acquisitions, more comprehensive to make a complete and objective evaluation of m&a performance.AppIying the balanced scorecard to m&a performance study from the perspective of an innovative and comprehensive evaluation of m&a performance, broke through the limitation of the traditional financial performance evaluation, corporate mergers and acquisitions performance research has certain theoretical significance and practical significance.In this paper, based on the M&A motivation, combines the balanced scorecard financial and non-financial factors of evaluation ideas combined with enterprise M&A motivation theory, no longer simply from the perspective of finance, mergers and acquisitions performance evaluation, constructs the covers financial, customer, internal process, learning and growth four Angle of M&A performance indicators evaluation system. Giovanni cobolli gigli acquisition Volvo, which is very important in the history of China’s auto industry, overseas M&A, the outside world have given us a lot of expectations on performance after M&A.This article through to giovanni cobolli gigli acquisition Volvo case analysis, analysis of geely automobile M&A motivation, build the expected synergies contact with four dimensions of balanced scorecard, analysis of whether the M&A activity to achieve the desired synergy effect.Through the analysis found that although geely merger theo financial synergy effect is not obvious, but the management synergy and synergy got into full play, M&A purpose most are realized, don’t think the merger is a successful merger.The author analyzes the reasons for the success of the acquisition, and puts forward countermeasures and Suggestions to the deficiency of mergers and acquisitions, to evaluate the enterprise M&A performance provides a new method of relatively comprehensive, in an attempt to provide guidance and reference for the enterprise M&A.