| With the deepening of the background of economic globalization and the urgent need to upgrade and optimize the industrial structure,the new round of mergers and acquisitions has brought unprecedented challenges to Chinese companies,especially listed companies.M & A is not only a powerful tool for various companies to optimize their industrial layout and adjust their structural strategies,but also an inevitable choice to comply with the trend of market economy development.It is also a powerful way to promote the development of overseas trade.Since entering 2013,Chinese enterprises have set off a huge wave of mergers and acquisitions,and the characteristics of strategic resource mergers and acquisitions have become increasingly prominent.The author believes that in the next period,thanks to the support and guidance of national policies and the effective promotion of the market economy,China’s corporate mergers and acquisitions will continue to develop.However,mergers and acquisitions are a double-edged sword.While creating development opportunities for the company,it also brings some risks to the company.Therefore,we must rationalize mergers and acquisitions,and based on the lessons learned,work out a scientific and reasonable mergers and acquisitions plan to avoid the heavy damage caused by blind mergers and acquisitions.In specific practice,a comprehensive and multi-angled evaluation and analysis of the company’s M & A performance level can not only enable the company to have a more comprehensive and clear understanding of the risks of M & A,but also facilitate the company to formulate a rational and reasonable M & A plan.Therefore,in this subject,based on the perspective of the essence of mergers and acquisitions,the author conducts a comprehensive and systematic exploration and research on the performance of Chinese companies’ mergers and acquisitions,hoping to provide a strong reference for future mergers and acquisitions.This article first combs the research on domestic and foreign related concepts,motivations,and methods of M & A performance evaluation.On this basis,based on multiple perspectives,the overall strategic plan implemented by Alibaba and the motives of Alibaba ’s M & A behavior were described;secondly,the deficiencies and deficiencies of the traditional accounting index evaluation method were clarified,and the advantages of M & A performance evaluation by the event research method were analyzed And the use of the balanced scorecard framework for this case,combined with two methods to conduct a comprehensive analysis of M & A performance;Finally,the performance level of the practical case is summarized and summarized,suggestions and enlightenment are proposed,and the imperfections of this study are pointed out.The event research method was used to evaluate the performance of Alibaba’s M & A,and found that its excess cumulative return rate is positive,which means that the capital market can create good benefits for shareholders.With the help of the balanced scorecard,Alibaba ’s Analysis: Although the financial status of "Alibaba" has not improved significantly after the merger,the company has good growth capabilities,increased market share and core competitiveness,and has significantly improved its management level through resource integration.The retail layout has been developed in an orderly manner,and its strategic significance is greater than its actual significance,which has produced a positive synergy effect.Finally,this article provides advice on related M & A events in combination with this M & A case.This article studies the case of Alibaba’s mergers and acquisitions,and evaluates the implementation of corporate synergies after the merger.On the one hand,it analyzes the positive effects it brings in mergers and acquisitions,and accumulates beneficial experience for other companies’ mergers and acquisitions;at the same time,it finds out the influencing factors and puts forward specific suggestions for the shortcomings in integration,which can also provide other companies with Use it for reference and improve the success rate of corporate mergers and acquisitions in the market. |
