The Research On Performence Evaluation Of M&A Based On Balanced Score Card

With the continuous development of economic globalization,China’s economic market system is gradually improving,and the competition among domestic household electrical appliances enterprises is increasingly fierce.It is necessary for Chinese household electrical appliances enterprises to go out.Overseas mergers and acquisitions are an important means to improve market competitiveness and obtain market resources.However,because there is a lot of risk of overseas mergers,it is a matter of interest in the ability of overseas mergers to achieve the value of the enterprise.Therefore,scientific and reasonable m&a performance evaluation methods should be selected when evaluating corporate m&a performance.While paying attention to corporate financial performance,it should also comprehensively measure corporate performance at all levels.This paper combines the evaluation idea of multi-angle and multi-index of balanced scorecard with the theory of M&A performance.Based on the research of M&A performance from the perspective of pure financial indicators,it constructs a system of four levels of M&A performance indicator evaluation about financial,customer,internal business processes,learning and growth.It broke through the limitations of traditional financial performance evaluation and improved the evaluation method of Chinese enterprises’ m&a performance,providing a dynamic m&a performance evaluation approach for later scholars,which has certain theoretical and practical significanceSo this paper takes Haier acquire of Sanyo as an example,selects the data of the years before and after the merger,and builds a balanced scorecard M&A performance evaluation index system to comprehensively analyze Haier’s M&A performance.Firstly this paper introduces the background and significance of the subject,summarizes the research methods of m&a performance at home and abroad,And sort out the research content and innovation of this article;secondly it expounds the m&a theory,m&a performance theory and balanced scorecard theory;Then,constructs the enterprise m&a based on the balanced scorecard performance evaluation indexsystem,respectively from finance,customer,internal process,learning and growth four dimensions to build a suitable evaluation index system of enterprise m&a performance of concrete,at the same time the introduction of analytic hierarchy process(ahp),qualitative and quantitative analysis of evaluation index,made the index of the selected more persuasive;through the above designed index system,use the four dimensions of balanced scorecard,combined with the relative data of the last decade before and after the acquisition of Haier’s merger,the performance of Haier’s m&a in Sanyo was evaluated and analyzed,and the performance of Haier’s m&a was evaluated by calculating the comprehensive evaluation score,and a clear conclusion was given.Finally,the balanced scorecard applied to summarize m&a performance research,and analyzed in the process of research,put forward the future.It can be seen from the research that although the enterprise’s financial indicators have not been greatly improved in the short term,in the long term,overseas mergers and acquisitions have further expanded the international market for Haier,improved Haier’s brand value and international visibility,introduced high-quality talents,brought advanced technologies,enhanced the core competitiveness of the enterprise,and highlighted the non-financial indicators effect.In general,this m&a activity has provided a positive role for Haier’s development and achieved a relatively ideal m&a effect.