Research On The Performance Of L Real Estate Enterprises' M&A Based On Balanced Scorecard

Since the second half of 2016,China's real estate industry policy environment is increasingly tight,real estate business survival and development is facing difficulties.For small and medium-sized real estate enterprises,due to the pressure of cash flow and the risk of bankruptcy,but at the same time,large-scale real estate enterprises,on the one hand in order to obtain more land resources,expand their scale;the other hand,in order to enhance their own strength to meet More and more intense market competition,is in full swing to carry out mergers and acquisitions with the industry.In this context,it is of great practical significance to explore the scientific and rational evaluation system of M & A performance of real estate enterprises and provide guidance for M & A of real estate enterprises.Based on the basic idea of Balanced Scorecard,this paper constructs the evaluation system of real estate M & A performance from the four dimensions of finance,customer and market,internal process and learning and growth,and takes L real estate enterprise mergers and acquisitions P enterprises as an example to carry on the empirical analysis,The lack of previous single dimension evaluation,has a certain theoretical significance.Mainly to draw the following conclusions: First,L real estate enterprises mergers and acquisitions P enterprises on the L's financial role is positive,although not significantly enhance the profitability of enterprises,but is conducive to L business capacity and growth capacity;second,L real estate enterprises mergers and acquisitions P enterprises on the L enterprise customer relationship maintenance has a positive effect,through mergers and acquisitions,enterprises have access to a large number of high-quality customers and stable rental income;third,L real estate enterprises mergers and acquisitions P enterprise internal enterprise optimization The role is not obvious.Although in the acquisition of the year,L business unit profit management and sales costs much less,the internal process is optimized,but can not maintain a long time.Fourth,L real estate enterprises mergers and acquisitions P enterprises L business learning and growth has a positive effect.After the acquisition,L enterprises in order to quickly integrate resources,increased investment in R & D and staff training,so that the enterprise's ability to innovate and improve the level of service staff.