Research On M&A Performance Of Enterprises Based On Improved Balanced Scorecard

With the rapid economic development of our country,more and more enterprises expand their own scale and enhance their strength by means of M&A,M&A is becoming more and more important for the development of enterprises.Therefore,it is also increasing that domestic scholars' research on whether M&A can improve the business performance.Because the choice of M&A performance evaluation method has a great influence on the results of the final M&A performance evaluation,different scholars have different views on which evaluation method can better reflect the M&A performance of enterprises.The traditional M&A performance evaluation methods mainly focus on financial factors and ignore the influence of non-financial factors,so this makes the traditional financial evaluation method too single and one-sided,and it is difficult to comprehensively evaluate the M&A performance of enterprises.Kaplan and Norton proposed the Balanced Scorecard performance evaluation system,which makes up the shortcomings of the traditional performance evaluation method.It analyzes the enterprise performance from four aspects,which effectively solves the shortcomings of the traditional evaluation method,so this paper tries to apply this method to the M&A performance evaluation,and hopes to evaluate the performance of M&A from a new and comprehensive perspective.As a daily performance management tool,the Balanced Scorecard should not be blindly copied in the research of M&A performance,but should be improved in combination with the theories of M&A so as to reflect the difference between M&A performance and daily performance.Based on the three aspects of synergy,this paper improves the four dimensions of Balanced Scorecard and attempts to establish an improved Balanced Scorecard model for M&A performance evaluation..This paper adopts a case study method,taking the M&A between Suning and Redbaby as an example,using the improved Balanced Scorecard to evaluate the performance of Suning's M&A from the four dimensions of finance,financial coordination,business coordination and management coordination.Through the analysis,it was found that the M&A between Suning and Redbaby has a limited role in financial coordination,and the business coordination and management coordination have been effectively improved.As a whole,it is considered that this merger has improved the performance of Suning and it is a successful acquisition.