Research On Performance Of H-dairy Cross-border M&A Cultural Enterprises

With the rapid development of Chinese economy and the strengthening of global economic integration,the domestic market competition is more intense.Mergers and acquisitions(M&A)is one of the important means for enterprises to strengthen their own power,raise the value of enterprises and expand the scale of enterprise operation.More and more enterprises are trying to change their business status through M&A,so that their enterprises can develop better and faster.In 2014 our country launched a series of supportive policy to promote the development of cultural enterprises.In this context,H dairy industry has merged two film and television culture companies in 2014 and 2015,film and television culture,and through cross-border merger and acquisition,H dairy industry has embarked on the diversified development path of the two main industries of dairy industry and film and television industry.This thesis will study the performance before and after the cross-border M&A of H dairy industry,and combine the current market environment and national policies to provide experience for the traditional M&A culture enterprises in the future.This thesis first introduces the research background and significance of the thesis.The related research literature at home and abroad is reviewed and sorted out and the theory of M&A,M&A performance,M&A motivation and evaluation method elaborated.Secondly,this thesis introduces the merger and acquisition cases of two film and television media companies,including the introduction of merger and acquisition,the motivation of M&A and the process of M&A.The performance before and after the cross-border M&A of H dairy industry is analyzed through combining traditional financial index and EVA evaluation method.The corresponding inspirations and suggestions are obtained,and the conclusion is drawn.This thesis proves that H dairy industry improves the performance and market value of enterprises through cross-border M&A,moving quickly from the traditional dairy processing industry to the emerging cultural industry with strong development potential,successfully realizing the industrial transformation,which is a successful cross-border M&A case.In addition,from the M&A case of H dairy industry,it can be seen that the macro-environment of national policies,merger and acquisition motivations,selection of M&A targets and post-merger integration are important factors that influence the success of M&A,which shouldattract enough attention from similar M&A enterprises to achieve the purpose of M&A and realize its successful acquisition.