A Study Of Company A’s Green M&A Performance Based On Triple Bottom Line Theory

In 2020,China has set the environmental development target of "carbon peaking and carbon neutrality".Under the policy of transforming the energy structure and reducing pollution emissions,companies are rapidly acquiring new energy technology industries through absorption and mergers to achieve transformation and upgrading.The concept of green M&A has been a hot topic in the capital markets,and the number of green M&A transactions has increased significantly in recent years.However,there are not many existing case studies on green M&A.This paper introduces the triple bottom line theory to analyse the performance of Company A’s green M&A behaviour and provides some practise and expansion in combining theoretical research with actual case studies.The analysis shows that Company A’s economic performance is generally better than before the M&A;the improvement in environmental performance is obvious;and the improvement in social performance is more significant in the year of the M&A.Through this green M&A,Company A has achieved an important level of investment in the new energy industry.In the subsequent development,we also need to focus on improving the level of capital operation and short-term debt servicing capacity,improving the efficiency of new energy generation,and paying attention to staff development.It is expected that this study will provide some reference value for China’s energy industry to optimise its energy structure and achieve a green transformation.This paper takes Company A,a leading company in the energy industry,as the research object.In the theoretical part,the literature research method is used to study the relevant domestic and foreign literature and to define the concepts of green M&A and M&A performance;the theories of sustainable development,synergistic effect,and triple bottom line are sorted out,and the relevant research results at home and abroad are summarised.In the case study section,the case study method and survey research method are used to analyse the industry background of green M&A at Company A.The two parties and the process of M&A are briefly described,and it is concluded that achieving profit growth,improving market competitiveness,and actively assuming social responsibility are the motivations for the green M&A of Company A.In terms of performance evaluation,the triple bottom line theory is introduced to construct an evaluation system containing 29 detailed indicators at three levels from economic,environmental,and social aspects.Company A’s data from2016 to 2021 were selected,and the entropy value method and mutation level model were used to convert the indicator values into performance evaluation values and then to evaluate Company A’s performance before and after green M&A.The analysis concludes that Company A’s economic performance is generally better than before the M&A;the improvement effect of environmental performance is obvious;and the improvement effect of social performance is more significant in the year of the M&A.Through this green M&A,Company A achieves an important layout of new energy industry investment.In the subsequent development,we also need to focus on improving the level of capital operation and short-term debt servicing ability,improving the efficiency of new energy generation,and paying attention to employee development.It is expected that the green M&A performance evaluation system constructed in this paper will provide some reference for evaluating green M&A evaluation in China’s energy industry.