The Performance Analysis Of Shenyin Wanguo Mergers And Acquisitions Hong Yuan Securities Based On EVA

With the deepening of China's financial reform and the gradual improvement of the financial legal system,the pressure of competition in the securities industry has gradually increased.In order to enhance their competitive ability,the mergers and acquisitions between enterprises have become more marketable.And more cases of securities firms' mergers and acquisitions have been developed in 2014 July 25.Hongyuan Securities convened a Board of Trustees to consider the adoption of the Wanguo Securities Exchange to absorb the merger of macro-source securities,which is the securities industry in the founder of the merger of National securities after another major case of mergers and acquisitions in China's securities industry so far the largest market-oriented mergers and acquisitions case.In this paper,the use of EVA Index evaluation system to Wanguo mergers and acquisitions of macro-source securities has increased the value of enterprises for shareholders to bring profits.This paper is divided into six parts.The first part is the introduction part.First of our country's mergers and acquisitions,especially the historical background of the merger of securities companies to understand,and domestic and foreign research on corporate mergers and acquisitions performance and the performance of EVA mergers and acquisitions,and then put forward the content of this article,research methods and technical routes.And the innovation of this article.The second part is to elaborate the theoretical foundation.By combing the relevant research literature at home and abroad.This paper makes a comprehensiveunderstanding of the related theories of enterprise merger and acquisition performance evaluation method of Eva.And emphatically expounds the calculation method of EVA evaluation model and its application characteristics in enterprise mergers and acquisitions,which provides the basic theory support for the study of specific cases.The third part is the introduction case.Choosing the case of July 2014 Wanguo mergers and acquisitions of macro-source securities,the author systematically introduces the general situation of mergers and acquisitions,the background of mergers and acquisitions,analyzes the motives of mergers and acquisitions,and expounds the merger and acquisition process,which is the basis for the calculation and analysis of EVA Performance in 4th and 5th chapters.The Forth part establishes EVA performance evaluation model.In this paper,according to the theory of the former Eva,in view of the specific cases of Wanguo merger and acquisition of macro-source securities.EVA performance evaluation model was established from three stages of merger and acquisition,merger and acquisition,and the corresponding indexes were analyzed,and the calculation results were evaluated.The results of EVA evaluation and traditional financial evaluation are compared and analyzed.The fifth part is to propose recommendations for improvement.In this case,the factors that affect this merger cases EVA performance will be considered from both external and internal,then further analysis and evaluation of business performance,and suggest improvements for the influencing factors.The sixth part is the conclusion of this paper.Based on the theoretical basis of earlier studies,method selection,modeling and analysis of comments and recommendations related to M & A cases,we discussed the conclusions of this study and put forward the prospect of further development of business and industry.