Research On M&A Performance Evaluation Of Internet Enterprises Based On Balanced Score Card

Mergers and acquisitions(M&A)are an important way for enterprises to expand and develop in a market economy.In order to meet the needs of corporate strategic development and achieve industrial upgrading,more and more companies choose M&A.M&A in the Internet industry have entered a period of rapid development.Some internet companies can increase the company's market share,increase user stickiness,and enhance the company's core competitiveness by M&A.However,how to evaluate the performance after M&A is an important issue for enterprises,especially for Internet enterprises with "light" assetsThis article studies and analyzes the M&A performance of Internet companies,by selecting the"Alibaba" merger "ele.m" event in 2018 as the research object.It constructs a evaluation system of four-dimensional indicator by using the balanced scorecard theory,organizing five consecutive years of data before and after M&A,and analyzes the performance results of "Alibaba" M&A "ele.m"?There are six chapters in this article.The first chapter is the introduction,which introduces the research background,research purpose and research methods of this article.The second chapter sorts out and elaborate the domestic and foreign research results of M&A performance,and makes a literature review.The third chapter introduces the related theories of enterprise mergers and acquisitions and performance research methods,and comparatively analyzes the advantages and disadvantages of traditional performance evaluation methods and balanced scorecards.The fourth chapter is to build a corporate M&A performance research system by summarizing the characteristics of mergers and acquisitions in the Internet industry,based on the balanced scorecard evaluation method.Chapter 5 is to analyze and evaluate the performance of the case M&A,using the balanced scorecard system.The sixth chapter is to summarize the case and make suggestions for the M&A behavior of the enterprise.The study found that Alibaba's debt solvency declined in a short period of time after M&A,while its long-term debt solvency was relatively stable.Profitability and development capacity declined after a year of M&A,and rebounded after a year,with a slight decline in operating capacity;in terms of the purpose of the M&A.Through this merger,"Alibaba" has perfected the local life service field,deployed "new retail",and improved its own business system with the help of the "hungry" logistics system.Overall,this M&A activity has helped companies achieve their long-term goals and promoted the strategic development of Alibaba.Finally,combined with the problems encountered in the use of balanced scorecards in this case,suggestions are made to provide reference for subsequent peer M&A.