Research On The M&A Performance Of CSR Based On EVA Evaluation Index

Under the background of the global economic take-off and the trade barriers between countries declining,it is inevitable to set off a wave of mergers and acquisitions.The merger of other companies can allow the company to expand its own scale at a faster rate and at a lower cost,after mergers and acquisitions.If we can effectively integrate the resources of both parties,we can significantly improve corporate performance.Research on M&A performance has become an indispensable part of the academic field.In order to adapt to the trend of the times,our country has put forward the "One Belt and One Road" strategic concept and the "high-speed rail diplomacy" policy.To deepen economic reforms and promote the reform of state-owned enterprises,China has persisted in optimizing industrial distribution and creating an industrial policy for quality manufacturing,so we studied China's large-scale state-owned tracks.The M&A performance of traffic equipment manufacturing companies has far-reaching significance.The case selection in this paper takes place in 2014 when the North-South vehicle was merged into the China CRRC event and EVA indicators were used to evaluate the M&A performance of the North-South vehicles.This article first elaborates the background and significance of the research,reviews the relevant research literature at home and abroad,summarizes the related theory of M&A performance,compares the merits and demerits of different M&A performance evaluation methods,and specifically introduces the concept of EVA evaluation method.Calculation and adjustment,pointing out the superiority of the EVA evaluation method;taking the merger of South and North China Vehicles as China Motors Corporation as the case,analyzes the causes of mergers and acquisitions,calculates the EVA values from 2011 to2016,and compares the data for the three years before and after the merger and acquisition to analyze the changes in EVA.The analysis of changes in its core indicators and value-driven indicators reveals the true performance of the M&A transactions in the North and South China Vehicles,and then puts forward countermeasures and suggestions for improvement.This study finds that the merger of the North-South vehicles is a successful merger and acquisition case and achieves positive performance.This merger has increased the value of CRRC's business and increased the size of its enterprises,which has allowed the scale effect to be brought into play,which has led to a more concentrated employment ofrail transit equipment in China.The merger of North and South vehicles also has certain limitations.Available constructive suggestions for reference to promote the sustainable development of CRRC in China.