Serial M&As Motivation And Evaluation Of A Advertising Company

With the rapid development of China’s capital market and perfect,the enterprise also gradually realize that rely on endogenous growth is hard to keep up with the pace of market development,due to the merger,acquisition and reorganization has a prominent role to the development of enterprises,so enterprises are actively involved in mergers and acquisitions,the number and amount of domestic M&A market also reached record high.In this situation,our country listed company M&A behavior also has changed slightly,presents many new features,a merger and acquisition activity significantly increased in frequency is one of the more prominent change.The continuous acquisition phenomenon is mergers and acquisitions in the current market environment show that the new trend,gradually become a hot problem in the study of mergers and acquisitions of Chinese scholars.In the merger and reorganization of the industry classification of trade research,the advertising industry can be described as sudden emergence.According to statistics,in 2014,China’s advertising industry mergers and acquisitions frequently and efficient,the number of transactions and transaction volume are rapid growth in 2015 reached its peak.According to the survey and analysis,China’s advertising companies in the merger when there are several distinctive features:First,the choice of cross-border mergers and acquisitions of enterprises more and more;Second,the Internet to promote the traditional advertising industry,the strategic layout of change.This paper chooses A company as the research object,analyzes the motive of its continuous M&A and evaluates the continuous M&A of A company according to the established continuous M&A evaluation method.This article will briefly review the existing research on the motives of M&A and the methods of M&A.The following will be the industry leading A company as the case study object,the A company’s series of mergers and acquisitions classified description,from the beginning of the transaction to complete the required time,payment,the subject of registration and other dimensions of the A company’s series of mergers and acquisitions Finishing,and accordingly analyze the characteristics of A company’s continuous M&A,combined with A company’s development strategy analysis of its continuous M&A motivation.Then,based on the traditional M&A evaluation method,the difference between the continuous M&A and the general M&A is analyzed,and the method of continuous M&A is established.Finally,the continuous M&A of A company is evaluated according to the continuous M&A evaluation method.In this paper,the author evaluates the continuous M&A of the firm from the perspective of the degree of acquisition of the synergistic effect of the merger.Compared with the research methods of long-term performance evaluation based on the short-term performance evaluation and financial index method,A certain degree of innovation.At the same time,this paper uses the case study method to analyze the problem of continuous M&A evaluation of A company,and find out the individual factors that affect the performance of continuous M&A,and provide supplement and reference for empirical research.