Research On Evaluating The Performance Of Merger And Aquisitions Of Suning Group Based On The Improved DEA-AHP Model

With the deepening of economic globalization,accelerated capital circulation rate,M&A has become one of the important forms of foreign investment enterprises that seeking for survival and development.Enterprise can directly obtain the expansion of the scale,realize the combination of internal and external development.With the increasing of listed company merger and acquisition activity,the judgement of the result of mergers and acquisitions has been becoming more and more important.Therefore,the necessity of establishing performance evaluation system of M&A is very prominent,especially for large and medium-sized enterprise.The performance evaluation system of mergers and acquisitions can exchange the results into a series of quantifiable data.And the established evaluation system can ensure the mergers and acquisitions activity conform to the earlier strategy of the strategic policy and target the maximizing value.The research idea of this article rooted in the review of the existing domestic and foreign M&A performance study.Based on the status quo of Suning group,choosing a suitable evaluation method to establish an evaluation system.Research and analysis show that since 2009 the Suning holding group,successively completed several mergers and acquisitions.Although two enterprise has been completed renamed "transition" process,the integration of M&A and the evaluation is very important.In this paper,M&A performance evaluation system mainly includes the two levels.The first level is the use of DEA-AHP model to evaluate each single case in the group.Evaluation of this layer is mainly judging the "positive effect" or "negative effect" of the M&A,and judging the "efficiency" and "effect" of the M&A.The second level is on the perspective of overall enterprise group.Treat the group as a collection,containing every merger cases in the subset.On the bases of last level,using the fuzzy comprehensive index evaluation method,determine whether each bid can conform to the overall strategy of the enterprise group development and realize the enterprise value maximization goals.The purpose of this paper is to provide referential M&A performance evaluation system for helping enterprise group to make decisions.