The Performance Analysis Of HuluBaina Merger And Acquisition Blue Flame Based On The Balanced Scorecard

In the environment of rapid economic development and intensifying market competition,m&a has become an important choice for modern enterprises to realize their rapid development.In addition,countries also strongly supports the development of the cultural industry.Therefore,the media industry has set off a wave of merger and acquisition,which shows a trend of continuous growth in the number and amount of m&a transactions.So,it is worthwhile to study and discuss the motives of merger and acquisition of media enterprises,the performance of m&a and the realization of the m&a targets of enterprises.The balanced scorecard is to evaluate the performance of each level of the enterprise from four dimensions: finance,customer,internal business process,learning and growth.In the research on the m&a performance of media enterprises,the traditional m&a performance evaluation method is mostly adopted,which has certain limitations.The balanced scorecard has both financial and non-financial dimensions,and applies to the characteristics of the media industry to evaluate the m&a performance of the media industry.The merger and acquisition of Blue Flame by the HualuBaina is the largest acquisition in China's a-share media industry in 2014.The first part of the article discusses the background and significance of the research,the literature review and the main research methods and contents of this paper.The second part introduces the theory of market forces,the synergistic effect and the basic theory of balanced scorecard.The third part of the article introduces the basic general situation of the case.Also introduction of mergers and acquisitions,the balanced scorecard performance evaluation methods,respectively analyzes the traditional m&a performance evaluation method and its limitation,expounds the advantage of the balanced scorecard,and case,the necessity of using the balanced scorecard,finally combining case relevant evaluation index selection of the balanced scorecard.The fourth part of the article,using the balanced scorecard to analyze the m&a performance of this paper.The analysis is mainly from the four dimensions of balanced scorecard.Among them,financial dimension is evaluated from four aspects:solvency,operation ability,profitability and development ability.Customer dimensionwith market share,customer acceptance index analysis;The internal business process dimension is analyzed in three periods.The learning and growth dimensions are analyzed and evaluated from the employees' educational background,r&d investment and innovation ability index.The last chapter of this paper,based on the performance analysis of balanced scorecard,draws conclusions and inspirations,which can provide references for the m&a in the media industry in the future.