Research On M&A Performance Of QDJW Company

With the rapid development of global economic integration and the deepening of Internet technology,the competition among Chinese enterprises has become increasingly fierce.Even those enterprises that have developed for many years and whose basic routes have been determined have begun to compete for market share or reposition their industries in such a background.As an important business decision of enterprises,m&a can not only help enterprises enter new fields quickly,but also help enterprises to achieve long-term development in the fierce market competition environment.Successful m&a activity in the process of enterprise development is like a propeller,will bring positive influence,yet in a wave of mergers and acquisitions market,low success rate of m&a and failure behavior of mergers and acquisitions will have negative effects on enterprises.Therefore,how to use m&a to improve business performance has become the focus of the community.This paper takes the acquisition of YK company by QDJW company as the research sample,and from the perspective of QDJW company,carries out systematic analysis and overall evaluation of m&a performance.The whole paper consists of six parts.The first part introduces the background and significance of this paper,and then summarizes the achievements of domestic and foreign scholars in the research of m&a performance,leading to the research ideas,contents,methods and innovation points of this paper.The second part introduces the related concepts and theoretical basis of m&a and m&a performance.The third part introduces the merger and acquisition companies from the aspects of development process,development direction and business model,and expounds the merger and acquisition motivation and transaction process.The fourth part analyzes the performance of QDJWcompany in merger and acquisition of YK company,analyzes the short-term performance by using the event study method,and finds that the short-term announcement effect occurs after the merger and acquisition.Financial indicators are used to analyze the long-term performance of m&a,and it is found that the performance declines significantly after m&a.Through the analysis of non-financial indicators,it is found that QDJW company lacks the implementation of strategic objectives,and its market share decreases after the merger and acquisition.Based on the analysis of brand value and consumer groups,it is found that the merger and acquisition has no motivation to achieve diversified operation,which reduces the market competitiveness.The fifth part puts forward the existing problems and relevant enlightenment of merger and acquisition.The sixth part summarizes the content of the whole paper,points out the reasons of the deficiency,and puts forward the future attention and research direction.