Research On The Performance Of Enterprise Mergers And Acquisitions Based On Balanced Scorecar

With the improvement of people’s living standards,people’s demand for dairy products continues to grow.Under the strong competition of overseas products,many dairy enterprises begin to carry out merger and acquisition activities,in order to get out of the relatively depressed situation.Successful M&A activities can not only strengthen the market competitiveness and enhance the value of the enterprise,but also optimize the different resources of the enterprise in a relatively short time,which is conducive to the accumulation of more wealth of the enterprise.However,whether M&A achieves strategic synergy between the two parties,whether it really improves business performance,and whether it can be called a successful M&A case,it is necessary to have a scientific and reasonable evaluation of the performance of enterprises after M&A.At the beginning,the most extensive method is to use financial indicators for comparative analysis of M&A cases.However,it is gradually found that the analysis method that relies too much on financial factors cannot comprehensively and objectively analyze the advantages and disadvantages of collaborative M&A,and non-financial indicators should be introduced into the evaluation system.Therefore,in order to use both financial indicators and non-financial indicators for performance analysis and evaluation,this paper finally selects the balanced score theory system to evaluate the performance of M&A after consulting relevant literature.In the construction process of the evaluation system,the analytic hierarchy process is introduced in this paper to determine the four dimensions of the balanced scorecard and the weight values of the evaluation indicators selected under each dimension through the scores of relevant personnel.At the same time,the typicality,timeliness and availability of relevant data are comprehensively considered.In terms of case selection,this paper selects the case of New Hope Dairy’s acquisition of Ningxia Huanmei Dairy in 2020 for analysis and study,and uses fuzzy comprehensive evaluation method to comprehensively evaluate its M&A performance.In addition,this paper also selects the relevant financial data of New Dairy industry from 2019 to 2021 to carry out quantitative index analysis on its profitability,operating capacity,debt paying capacity,development capacity,management capacity,R&D investment and other aspects,in order to understand the impact of the merger on New dairy industry through quantitative index analysis and comprehensive calculation,and put forward suggestions for it.It can provide some reference value for other enterprises to conduct M&A.Through the research,it is concluded that in the short term,the positive effect of the merger of Ningxia Huanmei Dairy on the new dairy industry is not obvious,and the evaluation result is "average".