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HRSJ Merger And Acquisition SFYY Case Analysis

Posted on:2020-04-28Degree:MasterType:Thesis
Country:ChinaCandidate:R H YinFull Text:PDF
GTID:2439330575956055Subject:Finance
Abstract/Summary:PDF Full Text Request
In recent years,there have been many cases of mergers and acquisitions in China's pharmaceutical industry,but no attention has been paid in China,especially in the following aspects:motivation and performance of mergers and acquisitions.This paper selects the case of merger and acquisition of HRSJ company,analyzes the motivation and performance of merger and acquisition,finds out the problems in the case of merger and acquisition through analysis,and finally proposes solutions and enlightenment.Firstly,this paper expounds the research background,significance and purpose of this paper,and sorts out the theories about the motivation and performance of m&a at home and abroad.Then it introduces the basic theory of this paper,including the concept of merger and acquisition,the theory of synergies and the theory of capital concentration.Then,the development status of the pharmaceutical industry is described,and the case background is introduced.Case background includes:the basic introduction and process of merger and acquisition enterprise.Then,based on the theory of synergetic effect,this paper analyzes the motivation of m&a pricing from three aspects:enterprise operation synergetic effect,financial synergetic effect and management synergetic effect.Merger and acquisition is the most important part of the analysis,first of all,from pricing and integration were analyzed,and the last is the factor analysis to evaluate performance of mergers and acquisitions,and choose the data before and after m&a through factor analysis,from the insolvency,growth,profitability and operation four aspects analyzes the problems which in the acquisition,for example,is a long-term solvency to improve the effect is not obvious;Second,assets are underutilized;Third,accounts receivable is not effectively managed.Fourth,the profitability and growth capacity to be improved.Through to the SFYY HRSJ m&a motivation and performance analysis,overall,the m&a performance is good,but you can still find some problems,and puts forward some solutions,such as raising the long-term debt paying ability,increasing the service efficiency of its own funds,strengthen the accounts receivable and cash flow management,improve the growth ability of enterprises,and profitability.Finally,it summarizes the enlightenment of this case,such as starting from the strategy,making full preparations before the merger and focusing on the integration of resources after the merger,in the hope of providing certain reference for the enterprises in the future who intend to merge in the pharmaceutical industry.It is expected that mergers and acquisitions can improve the competitiveness of enterprises in the market,which has certain reference value for the development of China's pharmaceutical industry.
Keywords/Search Tags:Merger&Acquisition, Factor Analysis, Motivation of Merger and Acquisition, Mergers and Acquisitions Performance
PDF Full Text Request
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