Research On M&A Performance Evaluation Based On Balanced Scorecard

The impact of economic globalization not only makes the norms and standards in various industries gradually mature,but also makes the competition in various industries more and more fierce,of course,the home appliance industry is no exception.At present,the technology and various aspects of China's home appliance industry have entered a mature stage.In order to gain a foothold in the industry,more home appliances have transferred their market development to overseas markets.Cross-border mergers and acquisitions have become a new strategy for various enterprises in the home appliance industry to increase market share and enhance brand awareness.However,enterprises have to bear very high risks for cross-border mergers and acquisitions.Therefore,whether or not cross-border mergers and acquisitions can achieve the expected performance of enterprises and what kind of effect they can achieve is worthy of our in-depth study.This issue is also the main concern of many enterprises and investors.Therefore,it is particularly important to choose appropriate performance evaluation methods to evaluate the performance of transnational mergers and acquisitions scientifically,comprehensively and effectively.This article will use the balanced scorecard as the main method of performance evaluation of enterprise mergers and acquisitions,from the aspect of financial indicators,customer,internal processes and learning and growth these four aspects to enterprise's performance to conduct a comprehensive analysis and evaluation of transnational m&a,compared with the traditional performance evaluation methods,this method enriches the evaluation dimensions and level,make the whole performance evaluation more comprehensive and accurate,and also provide other researchers with a new research thinking,to promote Chinese scholars on the development of transnational m&a performance evaluation research.Based on the above theory,this paper mainly analyzes the case of Qingdao haier's acquisition of general motors(GEA),selects the financial reports of Qingdao haier group from 2012 to 2018 as the core data,and comprehensively evaluates andanalyzes the performance of haier before and after the acquisition based on the balanced scorecard method.Firstly,this paper expounds the research background and significance of selecting m&a performance evaluation as the research topic,and summarizes the research status of m&a performance evaluation at home and abroad.Then,the relevant theories of m&a performance evaluation are introduced in detail,such as: m&a theory,m&a performance theory,balanced scorecard theory and so on;Then,the whole process of haier's merger with gm and the situation of both enterprises are introduced.Then,based on the balanced scorecard method for haier m&a gm set up m&a performance evaluation system,from the aspect of financial indicators,customer,internal processes and learning and growth these four aspects to build system and selection from the dimension of this a few kinds of specific evaluation indexes,as well as the introduction of analytic hierarchy process(ahp),and the selection of indicators evaluation of qualitative and quantitative analysis,makes the selected indicators more scientific and effective;Then,based on the performance evaluation system established above and selected good specific indicators,and combined with the four levels of balanced scorecard,relevant data of Qingdao haier from 2012 to 2018 were analyzed.Through the comparison of the data before and after the merger and other aspects,the impact of the merger on haier was found.Then,the comprehensive score was calculated to evaluate the performance of haier's overall merger and acquisition,and the final conclusion was given according to the relevant standards.Finally,some Suggestions are put forward for the above conclusions and the impact of the merger on haier,so as to give some experience to other enterprises planning to carry out mergers and acquisitions.By using the balanced scorecard to evaluate the performance of gm found that haier m&a financial indicators of haier does not have a lot of volatility,also didn't bring huge profits to haier,but haier overseas market share increase,to enhance brand awareness in the international market position,the change of the respect such as home appliance technology improvement is also visible,these aspects in the long run is conducive to the benign development of haier.In general,haier's merger with gm has played a positive role in haier,and its performance after the merger is also relativelyideal.