Research On The Motivation And Performance Of Cross-industry Acquisition

Due to the overcapacity of traditional industries,emerging industries develop rapidly,industry convergence is imperative.Driven by macroeconomic policies,the amount of cross-industry mergers and acquisitions in China has been on a steady rise from 2013 to 2016.Although it declined in 2017,it picked up in 2018.The number of mergers and acquisitions has been showing a fluctuating upward trend from 2014 to2018.This fully shows that merger and acquisition,as a shortcut to quickly realize the cross-industry layout and enhance the value of the company,has been widely used in modern corporate management.In terms of the selection of m&a targets for cross-industry mergers and acquisitions,the top two m&a completed cases from 2013 to 2018 are all internet-related target companies.This suggests that the company of choice for cross-industry mergers and acquisitions are all types of Internet companies,this and China's Internet industry over the past several years of rapid development,and policy support,the Internet industry is regarded as a sunrise industry,is also preferred cross-industry mergers and acquisitions,and traditional industries tend to income growth,are in urgent need of injected fresh blood,therefore,as one of the most popular Internet company mergers and acquisitions object it is not surprising.This paper takes zhejiang furun company's acquisition of tiyi zhishang company as a case study to study the performance of traditional Chinese enterprises in the "Internet +" transformation merger and acquisition.This paper firstly sorts out domestic and foreign literatures,expounds the background of topic selection and research significance of this paper,summarizes the existing research experience and research results of predecessors,and introduces the theories related to merger and acquisition.Then is the case introduction,the introduction of both sides and industry background,m&a motivation,m&a process and integration methods.On this basis,the m&a performance of zhejiang furun company is analyzed from three aspects: field performance,financial performance and non-financial performance.At last,the thesis evaluates the merger,analyzes the existing problems of the merger,evaluates whether the merger achieves the goal,and puts forward some Suggestions.In this paper,the study found that zhejiang ty however m&a refers to the acquisition target is the basic implementation,performance in line with expectations after the merger,diversified development pattern basic formation,merger andacquisition of more successful,however,subsequent integration and development still exist certain challenges,need to continue to push forward the double main operation mode,improve the quality of the business,focus on the long-term performance of ascension,strengthening the scale efficiency of management and operational risk management.