A Study On The Motivation And Performance Of Cross Border Mergers And Acquisitions

With the recent listed companies have frequent "net",the traditional industry through the acquisition of Internet related enterprises to adjust the industrial institutions,actively seeking transformation,to achieve integration with the "Internet plus",the industry is expected to "Internet plus" merger and acquisition will become a fast track development of the integration of traditional industries.In the economic slowdown in the environment,the Internet can accelerate the integration of the industrial chain to accelerate the upgrading and transformation of enterprises.In the future for a long period of time,mergers and acquisitions will continue to be an important means of optimizing the allocation of market resources.However,the integration of the cross industry does not necessarily bring about the improvement of the operating performance and the occurrence of synergy.The study of the existing M & A case is helpful to dig out the deep motivation and the actual effect of the merger and acquisition.This paper selects the Century Huatong mergers and acquisitions of Internet game companies as the study object,research by using literature research method,case study method and event study method etc..First of all,the thesis introduces the research background and significance of the study,and from the M & A,and the performance of China's auto parts manufacturing enterprises in the traditional game industry status,the present situation of the macro environment analysis.Secondly,the paper introduces the basic situation,the business situation and the financial situation of the merger and acquisition company and the target company.Again,this paper respectively from the century Huatong why mergers and acquisitions restructuring,why choose diversified MampA transformation,why choose the game industry mergers and acquisitions transformation of three aspects of the research to China century acquisition strategy.Then,this paper analyzes the performance of the merger,including the short-term market performance and the use of the concept of balanced scorecard.Finally,the paper summarizes the two aspects of the case of cross industry mergers and acquisitions and transformation of traditional single century Huatong company's enlightenment.Through the case study,this paper obtains: the traditional enterprises in mergers and acquisitions restructuring,should make clear their strategic goals,choose the appropriate industry mergers and acquisitions,mergers and restructuring,in order to achieve the purpose of transformation.