Analysis Of YTO Express's Cross-border M&A Performance Under The Background Of Internationalization Strategy

In recent years,we have witnessed the development of express industry in China,and people's life has become closely related to express.With the continuous development of economic globalization,cross-border e-commerce has also been developing in recent years.Cross-border business has become a new blue ocean of the express industry.Although China's major express companies are also gradually starting overseas layout,but the effect is not obvious.The four giants of the international express industry,UPS,TNT,FedEx and DHL,still have absolute control over the international express logistics business.Looking at the development of the four major international express companies,they can make outstanding achievements in international business,all of which benefit from their development In the process of continuous overseas M & A,the growth mode of the four major express companies provides a good reference for the implementation of the international strategy of China's express companies.In 2017,in order to accelerate the process of internationalization,YTO express completed the merger and acquisition of Hong Kong logistics company On Time international Express after a long period of consultation and negotiation,which is also the first cross-border merger and acquisition in the history of China's express industry.Overseas mergers and acquisitions in China's express industry have just begun.Today,from YTO express delivery of merger and acquisition of first international has been in the past two years,the integration of M&A effect has paid off,the paper on the basis of the overseas mergers and acquisitions cases were analyzed,and through agent of YTO express delivery of overseas mergers and acquisitions,mergers and acquisitions after the performance analysis etc.,determine whether through mergers and acquisitions has realized the purpose of the development of international business.In terms of research methods,this paper adopts literature research,case analysis and comparative analysis.On M&A performance analysis and evaluation method,based on the balanced the M&A performance evaluation methods advantages and disadvantages of several common after decided to adopt balanced scorecard performance analysis framework,at the same time,in the theory of balanced scorecard in the related literature review,found that the traditional balanced scorecard four dimensions is no longer meet the enterprise performance evaluation,some scholars began to according to the characteristics of the enterprise,based on theBalance scorecard four dimensions added,such as the dimension of "sustainable development" "environmental dimensions" dimension of "social responsibility" five dimensions,inspired the author,considering the YTO express delivery of mergers and acquisitions of international first for the motivation of internationalization strategy,First add "internationalization level ascending dimension" to the balanced scorecard,respectively from the five dimensions of the acquisition performance to conduct a comprehensive analysis,and through the analysis of financial indicators and non-financial indicators,to summarize dimensions of merger,found that enterprises in the problems before and after M&A,corresponding Suggestions are put forward.