Research On M&A Performance Of Enterprises Based On Balanced Scorecard

In today’s increasingly fierce market competition,many enterprises take mergers and acquisitions as the main way to enhance their core competitiveness.China’s highway network is perfect,reducing circulation costs and promoting industrialization.At the same time,expressways are also facing problems such as narrowing income space,high construction costs of new roads,and increased debt burden in the industry.At present,the market is worried about the sustainability of the main road property of the expressway after its expiration,and enterprises must extend the acquisition of potential road properties to alleviate the current difficulties and improve the profitability of the company on the basis of ensuring continuous operation.It is necessary to accurately and reasonably evaluate the M&A performance of the expressway,and through the analysis of M&A performance,it can reflect whether the enterprise has achieved the purpose of M&A,and according to the analysis and evaluation results,some suggestions are put forward for the development of the enterprise.This paper adopts the methods of literature research,case study and comparative analysis,takes the acquisition of North China Expressway by China Merchants Highway in2017 as a case study and analysis,systematically reads and sorts out the literature and theories on M&A performance evaluation at home and abroad,compares and screens out the methods for evaluating M&A performance,and finally determines the performance evaluation of China Merchants Highway’s acquisition of North China Expressway using the balanced scorecard.According to the four dimensions of the balanced scorecard,a comprehensive evaluation index system applicable to China Merchants Highway was established.On this basis,combined with the relevant data of the 8 years before and after the merger of China Merchants Highway and North China Expressway,the performance of the merger was evaluated from both horizontal and vertical aspects,and the conclusion of the performance of the merger was drawn,and on this basis,corresponding suggestions were given for the impact of the merger on China Merchants Highway,hoping to provide some reference significance for other companies with M&A intentions.