Research On Performance Evaluation Of Enterprise Mergers And Acquisitions From The Perspective Of Balanced Scorecard

In recent years,with the quickening pace of social and economic development,the growing demand for cars in our country,therefore,China's auto industry developing rapidly,and from the velocity to the quality of stage in our country at present,in this case,many enterprises in our country started out through mergers and acquisitions,merger and acquisition of these cases have success and failure,therefore,the study of automobile enterprises overseas mergers and acquisitions is the most important part of the current m&a cases,the enterprise how to affect financial operation level through overseas acquisitions,what way can help enterprises overseas mergers and acquisitions to succeed,As well as how to achieve revenue maximization in the case of cost savings,these are the enterprise development and construction process and pay attention to the problem.Based on m&a performance theory and the balanced scorecard theory as the foundation,USES the case analysis and literature research,in-depth research on the business performance,the impact of mergers and acquisitions by drawing on the successful case of giovanni cobolli gigli acquisition Volvo,geely to research can also successful merger and acquisition of proton,this is not the first time go abroad,geely automobile in overseas acquisitions has had a successful case,if you can succeed again open the southeast Asia market,then it is not just a geely automobile has been a success,as well as other car companies in the automobile industry in our country provides a meaningful reference to the world.There are many methods to evaluate the performance of mergers and acquisitions,such as event research method,economic added value method(EVA),dupont analysis method,etc.First,this paper summarizes the literature review of domestic and foreign scholars on m&a performance evaluation methods,analyzes their advantages and disadvantages,and concludes that the balanced scorecard is more suitable for the analysis of m&a performance.Then,introduces the theoretical basis of the article,such as the balanced scorecard theory and m&a theory,geely,proton's company background,motivation and process of mergers and acquisitions,by applying the method of balanced scorecard,from financial,customer,internal processes,andinnovation and learning four dimensions to evaluate geely nearly five years of performance before and after mergers and acquisitions,financial perspective including growth ability,profitability,solvency analysis,operation ability analysis,the analysis of development ability;Customer perspective includes brand attention,customer satisfaction;The perspective of internal process includes the reform of marketing system and the change of cost;Innovation and learning perspectives include employee development,r&d investment,manpower and cultural integration.Then,through the analysis of the performance of proton after concluded cobolli gigli m&a performance good,integration has achieved certain success,to achieve synergies,will be a successful m&a behavior,geely's acquisition of proton success experience,mainly includes the financial synergies,the improvement of customer satisfaction,internal processes,enhance the efficiency of operations,the coordination effect of culture and technology,the article research deficiency and put forward the revisions.Although the phenomenon of overseas mergers and acquisitions has become a hot trend in recent years,such mergers and acquisitions have great risks and failure rate,so it is particularly important to carry out risk analysis and draw lessons from experience.Through the balanced scorecard,a relatively comprehensive performance evaluation system,this paper studies the performance of geely after its acquisition of proton,analyzes the key reasons for success and failure,and obtains relevant enlightenment,so as to provide good Suggestions and guidance for future overseas mergers and acquisitions.