Case Study On The Series Of M&A Performance And Synergistic Effect Of Tian Shen Entertainment

In recent years,with the development of e-sports,China's game industry has also developed rapidly.Due to the rapid development of network technology and the popularity of new media such as intelligent electronic products,the game company has a wide market,and the profit growth is fast,far exceeding the traditional enterprises.With such good development prospects and high profits in the game industry,game companies are expanding their scale and improving the industry chain through merger and acquisition activities.So what does this series mean for the company? This is worthy of further study.Combined with domestic and foreign scholars on corporate mergers and acquisitions motivation and m&a performance research literature,the synergistic effect,on the basis of the theory of industrial organization,to our country enterprise series of mergers and acquisitions motivation and m&a performance is studied.Firstly,the thesis introduces the research background and significance of the thesis,and defines the relevant concepts.Secondly,the literature on enterprise m&a motivation and m&a performance is summarized and summarized.Again,with the examples of the gods entertainment game series of enterprise merger,combed the events of a series of mergers and acquisitions between 2014 and 2017,analyzes the reason of company a series of mergers occur,at the same time choose the game enterprise industry characteristics of financial index analysis of the gods entertainment series m&a performance study.Through the research,it has been found that the acquisition has achieved good market effect,and the merger has brought certain scale economic effect to the enterprise.The company has expanded the platform and mobile Internet market,and its market share has been greatly improved,and the upstream and downstream industry chain of the game has been improved.It also brings good profits to the investors.But the m&a effect of m&a is not ideal.There is no obvious positive effect on the company's ability to obtain cash,operation ability,debt paying ability and enterprise development ability.Above results indicate that,the gods entertainment company's series of mergers and acquisitions,although produced some positive effects of mergers and acquisitions,but judging from the development of merger,but not all aspects from a steady positive influence on the enterprise,that mergers and acquisitions after the merger integration problem that nots allow to ignore.Finally,the conclusions of thesis are drawn,and some Suggestions and Suggestions are put forward.