A Research On The Performance Of Cross-Border Mergersand Acquisitions Of Listed Companies

The food industry has been booming and flourishing rapidly in China for the past few years,The gross output value of national food industry has taken the lead in all industrial sectors.Even so,with the growing global economy,our economy is now presenting as a "new normal".In this kind of macro-economic context and the advent of the era of "Internet Plus",traditional enterprises in almost all walks of life generally are confronted with the problem of transforming and upgrading the industrial forms,otherwise they can only be eliminated by the times.Accordingly,a large number of food industry in practice gradually try to carry out the mode transformation of enterprise operation,embedding "Internet plus" into the traditional manufacturing operation to achieve the purpose of upgrading.And how to achieve embedded "Internet Plus" is the key to the problem.At this time,cross-border mergers and acquisitions should come into being,especially for e-commerce enterprises,mergers and acquisitions,after the initial transformation and improve the performance of mergers and acquisitions?Based on this,this paper focuses on the Black Sesame merger and acquisition of Liduoduo behavior in 2017.First of all,The paper will reveal the current physical situation of cross-border acquisitions and mergers in China's practice in the context of relevant researches about cross-border acquisitions and mergers in the physical field.Second,on the relevant theoretical basis combined with the relevant literature combing to obtain the current academic research status of the problem;based on the literature research method and comparative analysis method to Black Sesame mergers and acquisitions Liduoduo case analysis:the use of event research method to analyze the short-term performance of Black Sesame mergers and acquisitions;EVA and non-financial index analysis method to conduct a comprehensive analysis of merger and acquisition performance,and finally get the conclusion and related recommendations,in order to provide reference for cross-border mergers and acquisitions in the food industry.The research results show that: First of all,black Sesame enters into the e-commerce industry after cross-border merger and acquisition,which makes its main business add e-commerce business,and then realizes diversified operation and development.Secondly,the overall performance of Black Sesame after cross-border merger and acquisition declined in both short term and long term.Finally,after cross-border mergers and acquisitions,it did not show significant improvement in financial performance,but improved in non-financial indicators.Finally,through this paper,the following enlightenments are obtained: firstly,In the case of cross-border mergers and acquisitions,the purpose of mergers and acquisitions should be clarified and the appropriate mergers and acquisition objectives should be chosen;secondly,cross-border mergers and acquisitions will add new profit points for enterprises;Thirdly,the integration problem after the merger and acquisition should be paid more attention.