Research On The Performance Of Serial M&as Of Longping High-tech

As the most important participant in China's strategic and basic seed industry,seed enterprises' development situation is related to the long-term stable development of China's seed industry.The growth of seed enterprise is not only closely related to the interests of farmers,but also to the food security of the country,and its economic spillover effect is quite obvious.Under this background,if a seed enterprise wants to occupy a place in the fierce competition,it will inevitably take measures to promote its long-term development and achieve good benefits.In general,endogenous growth and extensional expansion are the two most important ways for business growth.With the increasing competition among seed companies,the extension of expansion represented by mergers and acquisitions has gradually become an effective way to expand the scale of enterprises,enhance the efficiency of enterprises,and achieve corporate strategic goals.In recent years,the number and frequency of mergers and acquisitions of seed enterprises have gradually increased.The M&A behavior of some companies has shown a trend of continuous mergers and acquisitions.The phenomenon of continuous mergers and acquisitions and its performance have gradually become the hotspots of M&A research.Therefore,it is crucial to have an accurate and comprehensive evaluation to the performance of continuous M&A activity of seed enterprises.In the boom of M&A,Longping Hi-Tech has successively acquired 7 companies between the year of 2015 and 2017.Its M&A activities are frequent and representative of the industry.Therefore,the thesis selects promoters and leaders of global seed companies as the research object,Longping Hi-Tech,which are known for their quality products and professional services.The author uses the case study method to study the internal reasons for the company to adopt continuous mergers and acquisitions,and analyze the performance after the implementation of continuous mergers and acquisitions.Firstly,the article analyzes the enterprise continuous merger and acquisition process and its motivation in detail.Secondly,based on the motivation theory and stakeholder theory of mergers and acquisitions,it introduces three methods: economic value added(EVA),balanced scorecard(BSC)and principal component analysis(PCA).From the preliminary evaluation of results,in-depth analysis and final verification,the performance of continuous mergers and acquisitions activities of Longping High-Tech is analyzed and evaluated in all aspects and at various angles.Finally,the analysis of the above methods leads to the conclusion that the motivation of Longping Hi-Tech's continuous mergers and acquisitions is to achieve synergy.The company's performance can be effectively improved through continuous mergers and acquisitions.The thesis further proposes corresponding countermeasures.On the one hand,the thesis hopes to analyze the possible defects of the enterprise operation in the continuous merger and acquisition activities through the research of the case enterprise,provide reasonable suggestions for the follow-up operation of the case enterprise,and finally realize the strategic goal of the enterprise.On the other hand,the thesis also hopes to provide some reference for similar companies in the same industry to conduct similar M&A activities in the future.