Research On The Performance Of Zhongnan Heavy Industry's Acquisition Of Datang Brilliant

With the rapid development of China's economy,the competition among enterprises is becoming increasingly fierce.In order to maintain the sustainable competitiveness and vitality of enterprises,merger and acquisition has become a way for many enterprises to strengthen themselves.Especially in recent years,with the in-depth development of market economy,merger and acquisition activities are extremely frequent,which has attracted the attention of many experts and scholars.But in understanding theoretical achievements of domestic experts and scholars,we can find that more than domestic experts and scholars research direction for the performance analysis of horizontal mergers and vertical mergers and acquisitions,for the performance analysis of diversified mergers and acquisitions less attention,at present our country's economy at a critical transition,traditional industry faces a dilemma in urgent need of transformation and upgrading,and diversification of traditional enterprise merger and acquisition is a fastest way of transformation,the current system of the theory of diversified mergers and acquisitions is not perfect enough to give the traditional enterprise is the most effective guidance of mergers and acquisitions,Therefore,it is particularly important to discuss the performance analysis of diversified m&a in traditional industries under the background of China's economic transformation.Therefore,this paper selected diversified mergers and acquisitions in the context of the transformation of traditional industries as the research object,and through in-depth analysis and research of this real case,tried to find out the key factors affecting the successful transformation of cross-industry mergers and acquisitions in traditional industries,so as to provide enlightenment and Suggestions for similar mergers and acquisitions.This paper first introduces the background,significance and research status at home and abroad,and then further describes the relevant theoretical basis.In case analysis part,micro zhongnan heavy industry mergers and acquisitions datang brilliance as a typical case,based on the analysis of mergers and acquisitions motivation and m&a process based on the comprehensive utilization of three methods to evaluate how to zhongnan heavy industry mergers and acquisitions datang brilliant performance,firstly,using event study analysis whether to bring the corresponding short term after m&a,mainly by comparing the price and yield changes measure whether a merger is recognised by capital market,whether in the short term,enhancethe value of the enterprise.Secondly,the financial index analysis method is used to analyze the corresponding accounting data and changes in financial data before and after the merger,so as to make a comprehensive evaluation of the long-term performance of zhongnan heavy industry's acquisition of datang brilliant.Thirdly,the economic added value method is adopted to calculate the real economic added value of zhongnan heavy industry before and after the merger,and to evaluate whether the enterprise really effectively USES capital to help shareholders to obtain the maximum economic benefits,which reflects the ultimate business objectives of the enterprise.In the end,relevant conclusions are reached and corresponding Suggestions are given.Enterprises should carefully choose the object of merger and acquisition in the execution of merger and acquisition,and pay attention to the integration work after merger and acquisition,so as to continuously improve the enterprise's own management ability and help shareholders to obtain more benefits as far as possible.