Research On Financial Integration After The Merger Of Enterprises

With the globalization of the world economy and the rapid development of China's economy,there are more and more cases of cross-border mergers and acquisitions.Successful mergers and acquisitions can enable enterprises to expand their scale,and improve their utilization efficiency.According to related research,although the number of mergers and acquisitions is increasing,the success rate of global mergers and acquisitions has been relatively low.According to a large number of scholars,the integration of mergers and acquisitions has played a key role in the success of mergers and acquisitions,and whether a good integration can directly affect the future business situation and resource allocation of the mergers and acquisitions.And financial integration is one of the most important links.Financial integration can help enterprises realize the synergy after merger and acquisition,and control financial risk.Therefore,in the case of more and more cases of transnational mergers and acquisitions and the high failure rate of mergers and acquisitions,it is necessary to study the financial integration after the merger and acquisition.Geely merger and acquisition of Volvo is a very typical case.Geely Group has been taking the middle and low route before the merger and acquisition,while Volvo has always been the line of high luxury cars.Geely faces the amount of assets of Volvo,how to accomplish its goals through reasonable merger and integration is a great difficulty.From the end of the merger and acquisition,the development of the two sides of the merger and acquisition not only failed,but made the development of the two sides better and better.In the face of the Volvo that has been lost for years before the merger and acquisition,it has begun to profit,while Geely has did't affect by Volvo's debt.Facing the losses and heavy debts of Volvo,Geely how to make financial integration is very useful for other company.This article includes six parts:The first chapter,the introduction.This paper mainly introduces the background and significance of the research on financial integration after merger and acquisition,briefly discusses the literature review at home and abroad,and summarizes the main research contents and innovation points.The second chapter is the theoretical overview of mergers and acquisitions.This chapter will studies the theory of M&A,merger integration,financial integration,and financial integration performance.The third chapter introduces the background and process of Geely acquisition of Volvo.This paper analyzes the background of Geely Group and Volvo group and the international and domestic background of M&A,and briefly introduces the specific process of the merger and acquisition of Volvo.The fourth chapter is Geely's process of financial integration after the acquisition.We introduce the general principles and programs of integration and we will focus on Geely's implementation of financial integration.The fifth chapter is Geely's acquisition of Volvo's financial integration effect evaluation.We use financial indicators to evaluate the effect of financial integration.The sixth chapter is the conclusion and enlightenment.Combined with the process and performance analysis of the financial integration of Geely,this paper summarizes the experience of the integration of Volvo integration.Through a series of studies on the financial integration of Geely merger and acquisition of Volvo,this paper can sum up the experience that can be used for reference,namely:choosing the appropriate financial integration strategy,paying attention to the integration of the accounting system;strengthening the integration of the group financial personnel.