| The rise of China’s household electrical appliance industry can be roughly divided into three periods: in the early days,China was mainly committed to the development of military industry,coal and other heavy industries,and " household electrical appliances" was only a strange concept to the public,and many people have not come into contact with household electrical appliances in their daily life.With China’s further reform and opening up,the household appliance market has begun to become active,the household appliance industry has begun to rise,and household appliances have gradually begun to enter thousands of houses,and people have gradually become familiar with it.With the continuous development and progress of today’s society and the advent of the Internet era,China has become more and more powerful and has become the world’s second largest economy.In the new normal phase of China’s economy,China’s household appliance industry is facing huge and difficult challenges since household appliance enterprises are seeking various ways to obtain their competitive advantages in order to improve their performance.Merger and acquisition is a method chosen by many enterprises to gain more market share in this wave.Some home appliance companies have adopted overseas mergers and acquisitions to seek development.In June 2016,H Company invested 5.576 billion US dollars in the acquisition of US General Household Appliances.It is an urgent issue to study whether the acquisition has really created value for the enterprise.Therefore,this thesis selects the largest amount of mergers and acquisitions in the domestic home appliance industry to analyze the impact of mergers and acquisitions on the financial performance of the enterprise.According to the related theories of mergers and acquisitions and financial performance,this thesis takes H enterprises to acquire US general household appliances as a specific case and the research is carried out in three stages: the acquisition stage of M&A information prepared in the previous stage,the stage of M&A in which specific measures are implemented,and the stage of good integration after M&A complementation.The balance scorecard and the method of economic value added are adopted to analyze,after the merger of H enterprises,the financial performance and other factors affecting financial performance in the process of M&A.Finally,according to the current financial performance of H company,the measures for how H enterprises improve their financial performance after M&A are proposed.And in China Under the circumstance of the increasing number of mergers and acquisitions companies,companies with M&A intentions should pay attention to the aspects of M&A,so as to increase the market share of Chinese enterprises in the world,increase the financial performance of each enterprise,and promote China’s economic development.This thesis summarizes the research results of the predecessors,and on the basis of this,combined with the case of H companies to acquire US general household appliances,makes the in-depth analysis of the impact of corporate financial performance generated by mergers and acquisitions,in order to improve the indicators of China’s corporate mergers and acquisitions process and reduce the impact of various factors and eventually improve the comprehensive competitiveness of China’s corporate market. |
