Research On Impact Of Mergers And Acquisitions Of SQ Group On Enterprise Performance

There are generally two ways for enterprises to achieve further development: one is through their own accumulation and investment,the general way is to increase production equipment,expand production plants,increase technical input,and promote innovation and research and development of new products.The second is the method analyzed in this paper,that is,acquisition of other enterprises through mergers and acquisitions,to further expand the size of the company.The automobile industry is also an industry with obvious economies of scale.Throughout the development history of the world automobile industry,one of the most distinct features is that large enterprises have united and merged in succession,which makes the production division of the industry more clear and centralized,and the performance of regional collectivization and transnational operation is more and more obvious.The same is true of China’s automobile industry,as the world’s second largest car market,but lack an absolute scale advantage of pillar industry,industry concentration is not high,industry structure is unreasonable,redundant construction and weak independent innovation ability,lack of core competitiveness,in the industry has always been a relatively messy situation.In order to further develop their own strength and pursue a larger scale,it is a good way for enterprises to choose a suitable target for merger and reorganization under the condition of higher requirements on technology concentration.The SQ group’s merger and acquisition of NQ group introduced in this case is the largest automobile merger and acquisition in China at that time.It not only ended the dispute between the two automobile groups that lasted for several years,but also profoundly affected the future of the two enterprises and the main brands in the two enterprises.This trans-regional large-scale merger case has attracted the attention of the industry before and after the merger.In the years after the merger,it has experienced the global financial crisis and other difficulties.Therefore,the performance of this merger activity is worth analyzing and studying,which is the focus of this paper.This paper is divided into five chapters.The first chapter is the introduction,this chapter mainly introduces the research purpose and research significance,at the same time,the core theoretical research on the performance of mergers and acquisitions at home and abroad is summarized.The second chapter introduces the basic concepts and theories of this paper,makes clear and defines the two key concepts of mergers and acquisitions and corporate performance,and lists the relevant theories used in the writing process of this paper.The third chapter introduces the motivation and process of M&A,including the transaction mode and payment method.The fourth chapter focuses on the analysis of the performance of enterprises before and after mergers and acquisitions,and is further divided into two parts,namely,financial performance and non-financial performance.The former is mainly through the financial index method,according to the results of the corresponding data to draw a performance conclusion,but also through the calculation of economic value added to test the conclusion;the latter draws a conclusion by comparing non-financial performance in corporate governance,economies of scale and other aspects.Finally,the fifth chapter introduces the experience obtained from the analysis of the merger case: the merger should give play to the role of the government,improve the performance of enterprises to market demand as the guide,at the same time,the merger should establish the overall concept of the industry.