Research On The Performance Of Enterprises’ Overseas M&A By BSC

In 2013,my country put forward the "the Belt and Road Initiatives",which provides new opportunities for Chinese enterprises to go global.The number and scale of overseas mergers and acquisitions of Chinese companies have also increased rapidly.In 2016,my country has replaced the United States as the world’s largest overseas acquirer.However,there are many uncertain factors in overseas mergers and acquisitions,and the success rate is not high.It can be said that risks and opportunities coexist.The study of successful overseas mergers and acquisitions has important practical significance for Chinese enterprises to improve the effects of overseas mergers and acquisitions.This article takes the overseas M&A case of J company and W company as the research object from the perspective of M&A performance evaluation.The content and structure of the research are as follows: First,sort out and summarize the research of domestic and foreign scholars on overseas mergers and acquisitions;Secondly,related theories and methods are explained;Third,build a performance evaluation index system for overseas mergers and acquisitions based on the balanced scorecard;Then,in the case analysis part,the performance of J company 5 years before the merger and 9 years after the merger is evaluated from the four dimensions of finance,customers,internal processes,learning and growth.The financial dimensions include profitability analysis,operating capacity analysis,solvency analysis,and development ability analysis.The customer dimensions include brand value,customer acceptance,and internal process perspectives.Including operation management and operation process,the learning and growth dimensions include scientific research ability and staff ability.Through comparative analysis of the changes of various indicators before and after the merger,it is judged that the merger has achieved a synergistic effect and it is a successful merger;Finally,summarize the factors affecting the performance of overseas mergers and acquisitions in the early stage of mergers and acquisitions and the process of merger integration in this overseas merger and acquisition event,and get the following case enlightenment: In the early stage of mergers and acquisitions,the acquirer should make preparations before the merger and pay attention to the timing of acquisition,Carry out full research on the target company and diversified financing arrangements.During the merger integration period,the acquirer should pay attention to the existence of differences between the merger and acquisition parties in overseas mergers and acquisitions,and take targeted measures in terms of finance,technology,brand,human resources,and culture.