Study On The Performance Evaluation Of Listed Companies' Merger And Acquisition

For enterprises,M & A is a shortcut for their overall growth and development,and its essence is a way of capital operation of enterprises.The successful merger and acquisition can make the allocation of resources more optimized after the merger and acquisition,produce more economic benefits,and further increase the market share.At the same time,the overall operating cost of the enterprise will be greatly reduced and the operational risk is effectively dispersed.Nowadays,with the rapid development of economy,more and more enterprises choose to merge and expand in order to expand their scale and enhance their competitiveness.However,not all mergers and acquisitions will bring positive effects to enterprises.Failed mergers and acquisitions may bring negative effects to enterprises.Therefore,we need to evaluate the performance of the enterprises after the merger and acquisition.Through the performance evaluation,we can see whether the merger has brought value to the enterprise,whether it brings interests to the shareholders,and whether it has reached the target of the merger and acquisition of the enterprise.Through the performance evaluation of M & A,we can draw the conclusion of the success of the merger and acquisition,which has played a certain role in the integration of the related resources in the future,and also accumulated experience for the future merger and acquisition.Under the guidance of the theoretical basis,this paper studies the case of blue flame of the merger and acquisition of the company.Through the analysis of the performance of the company before and after the merger and acquisition,we can draw the conclusion of the evaluation.The main content of the article is composed of five parts: the first part first explains the background and significance of the research,then expounds the framework of the research,and the research results at home and abroad respectively.The second part is mainly about the related concepts of M & a performance,the relevant theories and evaluation methods of M & a performance evaluation.The third part is the introduction of the case profile.This case focuses on the background of the two companies,the related matters of M & A,and the motivation of M & A.The fourth part is the case analysis,that is,the analysis of the performance of mergers and acquisitions.This article selects the traditional financial index method and the EVA index method,the non financial performance aspect.This article mainly analyzes the three aspects of the innovation ability,themarket reaction situation and the realization degree of the strategic target after the merger and acquisition.The fifth part is the conclusion and enlightenment.Based on the above parts,we can draw corresponding conclusions and Enlightenments for M & A,which is a reference for other listed companies in China.