The Performance Evaluation Of Case Study Of M&A Of Yishitong By Huichuan Based On The BSC Perspective

Modern international economic situation is increasingly complex,many companies have not satisfied with its va rious levels of internal prom otion to develop their ow n,in order to seek a place in the market.The purpose of mergers and acquisitions is to achieve the expansion of production scale and efficiency to reduce the unit cost,the formation of synergies,thereby enhancing its market share and influence.In many cases,not all mergers and acquisitions can achieve the desired purpose,and even some mergers and acquisitions will be counterproductive.M&A performance of the enterprise refers to the completion of the M&A expectation after the m ergers and acquisitions have been m erged by the m erged enterprise after the unified planning and adjustment of the M&A enterprise.W hether the acquis ition has achieved its ex pected effect,whether it has accelerated th e reform of the enterprise,whether the for mation of synergies and so on need to evaluate its pe rformance before the conclusion can be given.Therefore,more and more enterprises a nd scholars continue to study,explore the evaluation methods of M&A performance,and link the process of M&A and the final performance evaluation to provide valuable experience for future M&A integration.The research object of this paper is the case of HUICHUAN mergers and acquisitions in 2013.The time of M&A activity is not long ago,and the m erger and acquisition has also experienced some time,and it is of practical significance to study its M&A performance.In this paper,the Balanced Scorecard method is used to study the performance evaluation of HUICHUAN M&A,and the custom er,internal process,innova tion and learning dimension are added to the orig inal financial dimension according to the actual situation of HUICHUAN.Balanced Scorecard M&A performance evaluation system,the performance of HUIHCUAN 201 1 ~ 2015 an alysis,comparison,a com prehensive evaluation of the M&A performance.And the Balanced Scorecard evaluation index system and the analy tic hierarchy process are com bined to evaluate the M&A performance of HUICHUAN by c omparing the comprehensive evaluation scores o f HUICHUAN performance before and after M&A,and give cl ear conclusions.Compared with the simple financial index system,the law breaks through the shortcom ings of the traditional research methods,adding non-financial indicators,comprehensive evaluation of HUICHUAN's M&A performance,can bett er judge w hether the M&A activity has achieved the desired results,HUICHUAN es tablished a dynam ic M&A performance evaluation system.The main contributions are as follows: First,it establish a performance evaluation system based on the Balanced Scorecard and make a comprehensive evaluation of the M&A performance of HUICHUAN.Second,the use of analytic hierarchy process design evaluation of the weight of the indicators in the system,play a hierarchical analys is of qualitative and quantitative com bination of subjective and objectiv e combination of advantages.Third,it summarizes the dif ficulties encountered in the process of studying the acquisition of YISHIT ONG case,and pu ts forward som e suggestions on the evaluation method of M&A performance based on the Balanced Scorecard perspective,and provides a reference for later researchers.