Research On The Construction And Application Of Z Company's Internal Evaluation System For Mergers And Acquisitions

With the rapid development of China's economy and the continuous improvement of the capital market,a wave of mergers and acquisitions broke out in domestic enterprises.However,some companies pay attention to the existing performance hardly,neglecting the effective review of the development potential and synergy of the target companies,resulting in a decline in the company's performance after the merger and even a loss,and could not achieve the expected M&A effectAs a subsidiary of the central enterprise,Z Company has been shouldering the dual mission of developing non-powered civil nuclear technology applications and state-owned enterprise mixed ownership reform since its establishment.In the case of risk of M&A increased in,domestic enterprises and the state's strengthening of central enterprise investment supervision,Z company needs to strengthen the internal review of corporate mergers and acquisitions to meet the company's development needs for exogenous growth through M&ABased on the analysis of the professional work of the functional departments in the investment review and decision process of Z company,this paper combines the important theories and behaviors of the balanced scorecard,the performance evaluation and the due diligence in the merger and acquisition of enterprises,and follows the principles of strategic goal orientation,quantitative and qualitative combination,scientific and rational,and comprehensive coordination.The Delphi method is used to propose six first-level indicators of planned operation,financial management,technology research and development,human resources,legal business,safety,quality and environmental protection,and sets the second and third level indicators.Then,the AHP is used to assign weights to the selected indicators,and the internal evaluation system indicators of Z company for enterprise mergers and acquisitions are obtained.Finally,this paper selects three merger cases to verify the effective applicability of Z company's internal evaluation system for enterprise mergers and acquisitions by combining theoretical research and case study.