Mergers And Acquisitions Motivation And Performance

Along with the rapid economic development,the field of culture media and deepening in the field of economy,culture in our country economy is in a rising trend.After the middle of the 20 th century,our country enterprise merger and acquisition activity in increasing,and increasingly standardize and improve the merger regulation,market price continues to grow,in the face of new media,market saturation,changing competitive today,in order to avoid the risk of a series,enterprise want to become bigger and stronger,mergers and acquisitions is undoubtedly an important shortcut.But whether the mergers and acquisitions can obtain obvious performance,whether can improve the market value of enterprises,have not yet got the same conclusion.This article selects the Chinese media's case study mergers and acquisitions motivation and performance.First,acquisition concept and types of mergers and acquisitions,mergers and acquisitions motivation theory,the implementation of the merger and acquisition process,review and summarize the theory and merger and acquisition performance,analysis of the current media culture industry development.Media and the target company,and then the main mergers and acquisitions Fang Chinese wisdom star on the background,development course,the financial situation before mergers and acquisitions and corporate development strategy are introduced.And with the help of the existing theory,Chinese media mergers and acquisitions,the acquisition motivation is the need of strategic transformation in Chinese media,the Chinese media as a traditional print media company,mergers and acquisitions with their Internet platform of the target company,can realize the advantage of resources integration,business structure optimization goal.Then described the process of mergers and acquisitions,including the process of the merger and acquisition activity,payment and financing way.Then carried on the detailed analysis of the mergers and acquisitions performance,analysis of the short-term performance when using the shareholder wealth effects,long-term performance is a combination of financial indicators and non-financial indicators are analyzed in detail,among them,the long-term performance of the financial performance is an important part of performance analysis.Finally made a evaluation to the acquisition,and puts forward the problems of the merger,and get some enlightenment.Through the analysis of Chinese media,the acquisition performance is obtained certain to improve,played a synergistic effect of mergers and acquisitions.From the point of short-term performance,based on the analysis of the change of shareholder wealth with the acquisition of shortterm performance is positive effect.In the business,financial aspects by analysis,it can be seen that the acquisition to achieve the diversification,catered to the need of strategic transformation,Chinese media has played a business synergy and financial synergies.But need to increase in the asset management,according to the changes of the indicators,accounts receivable turnover and inventory turnover fell,therefore,in the aspect of management synergy did not achieve very good results.The analysis of the long-term performance of the non-financial indicators can be seen in the Chinese media in the development strategy and strategy,talent development strategy to make the effective the Internet "+" in the transformation for the company offers a wide range of data information,accurate marketing for the company to provide more detailed data,obtained the good results.Finally,in view of the acquisition accounts receivable and inventory problems gave Suggestions,through the summary of the case was concluded that seize the opportunity to choose the appropriate object for enterprise's mergers and acquisitions is important,and at the same time after the merger integration,the priority of mergers and acquisitions integration after mergers and acquisitions stage,enterprises need to merger and acquisition resources of talent,technology,organization,and so on..