Financial Integration Of Strategic Mergers And Acquisitions And Integration Effect Evaluation

In 1990s, a strategic mergers and acquisitions tide is emerging in the world, and to America, Europe, Asia, etc. In China, mergers and acquisitions activities also has appeared a trend of great growth.Firstly:Research background and purposeCorporate mergers and acquisitions is important way of enterprises growth as process of resource allocation and reallocation. Reorganization and annex may realize reasonable allocation of resources, and expand production capacity and lower bargain cost, and realize synergistic effect and reach maximization of value. To most enterprises, strategic mergers and acquisitions can promote enterprises growth greatly than inner outspread.1. Analyzing,summarizing theories and practice of Mergers and Acquisitions and Integration, exploring and promoting way of successful Strategic Mergers and Acquisitions.2. Analyzing influence of finance integration to Strategic Mergers and Acquisitions, and studying specific application of the balanced score card in financial integration effect evaluation.Secondly:Main Contents and OpinionsAs key way of society resource reallocation and advancing utilization efficiency, corporate strategic mergers and acquisitions is to pursue strategic value of mergers and acquisitions, which is realizing by integration. Financial integration plays a very important role in corporate strategic mergers and acquisitions. This paper emphasizes financial integration problem after strategic mergers and acquisitions combined with way of experience and case study. This paper is divided into the following five chapters.Chapter 1: Introduction. This part analyzes that mergers and acquisitions mainly satisfy the goal of long development from the theory on the basis of actuality analysis. The strength of core competition is main motivation of arises and success of mergers and acquisitions.Chapter 2: Analysis Theory of Strategic Mergers and Acquisitions and Financial Integration. This part discusses the characteristics of strategic mergers and acquisitions, then analyses the relation between strategic mergers and acquisitions and financial integration, and demonstrates key problems of financial integration. The paper points out that integration after strategic mergers and acquisitions is to achieve efficiency of integration and get purpose of economic and financial synergist.Chapter 3: Elaborating of Mode, Contents and Implementation Process of Financial Integration. This part analyses the mode problem of mergers and acquisitions and financial integration and mainly chooses transplanting and fusion mode to financial integration. The part elaborates the frame of financial integration composing of seven parts based on adjusting financial integration idea, and puts forward five stages integration management process aiming at financial integration implement after analysis of idea and frame of integration.Chapter 4: Constitution Evaluation System of Financial Integration Effect after Strategic Mergers and Acquisitions. This part analyses the necessity of evaluation of financial integration effect, and evaluates financial integration effect by testing and evaluation of balanced score card, then introduces the characteristics of balanced score card and reconstructs evaluation system of BSC. The part appraises generally the effect after financial integration on the basis of reviewing rewards of synergist in strategy, culture, human resources and finance after financial integration.Chapter 5: Analysis of Case on Mergers and Acquisitions about Yi Qi and Xia Li based on the above Idea. This part analyses the strategic goals between two enterprises and plan and implementation and specific financial integration measures, and values and assays finance, strategy, culture and human resources of financial integration effect in Xia Li using BSC system and combines academic analysis and practice work.Thirdly:Main ContributionThis paper advances the writer own idea and understanding about financial integration and effect evaluation after strategic mergers and acquisitions. There are the following contributions.1. Reconstruction of new frame of financial integration after strategic mergers and acquisitions.2. The balanced score card is led into evaluation of financial integration.3. Case analysis by the new financial integration frame.