| M&A between companies is an effective way to expand the scale of enterprises and promote the modernization of enterprises.Today,with the rapid development of modernization,the competition among enterprises is becoming increasingly fierce.Many enterprises realize rapid expansion and cross-border integration through mergers and acquisitions.In order to improve their own economic benefits,enterprises that choose continuous M&A,cross industry M&A and other activities have become more and more frequent in recent years.With the rapid development of the market environment,China’s cultural industry is supported by national policies and has a good development trend.Therefore,this study selects Kaiser culture as the research object.In view of the changes in the business form of the company’s original main clothing industry,this study takes the initiative to find strategic complementary emerging industries,deepen the transformation to the pan culture and entertainment industry,and create a diversified strategic development layout.This study analyzes the performance of enterprises from the perspective of continuous M&A,and analyzes the impact of continuous M&A on the later development of enterprises.Therefore,this study takes Kaiser Culture Co.,Ltd.as an example to study and analyze.Kaiser culture conforms to the current situation,keeps up with the pace of the times,and vigorously develops new industries through continuous mergers and acquisitions.This study takes the transformation of continuous M&A as the background,through consulting the domestic and foreign literature related to the performance of continuous M&A,and analyzes it on the basis of synergy theory,market power theory,M&A risk theory and diversification theory.Firstly,it expounds the company profile of Kaiser culture,and analyzes the M&A motivation and risks in M&A by analyzing the M&A process of kuniu Game interaction,Huanwen technology and Youkia.Secondly,using the event research method,financial index method and economic value-added method,this sudy analyzes the performance of Kaiser culture’s continuous M&A,analyzes the response to the market in each M&A activity,and makes a detailed analysis and Research on Kaiser culture’s continuous M&A from the perspective of market revenue share,R&D and innovation ability and resource integration.This artical studies the performance of continuous M&A of Kaiser culture,fully considers the impact of continuous M&A on enterprises,and obtains important enlightenment: it is considered that enterprises should reasonably select M&A objects when conducting continuous M&A,which is a cushion for the subsequent development of enterprises.At the same time,continuous M&A behavior is affected by internal and external environmental factors,and the frequency of continuous M&A also has a certain impact on enterprise performance,Finally,everyone should pay attention to the risk prevention in the process of M&A and the effective integration of resources after M&A.The conclusions of this study also provide reference for other similar cases. |