Research On Continuous M&A Performance Evaluation Of Z Company Based On Balanced Scorecard

The business of traditional culture media industry has been greatly impacted by the arrival of the Internet era.The competitiveness of the core main businesses that only rely on traditional businesses and physical sales channels declines year by year.In order to maintain their competitiveness,traditional cultural industries have been seeking business transformation and upgrading.Therefore,the Internet industry as the core of crossindustry mergers and acquisitions has become a trend.In order to speed up the layout of Internet culture,some enterprises have made continuous mergers and acquisitions for many times.By means of continuous M&A,the traditional cultural and media industry can directly enter new fields,rapidly integrate the traditional industry and the digital industry,and promote common development.Although the phenomenon of continuous mergers and acquisitions occurs frequently,the effect of continuous mergers and acquisitions is quite different.Therefore,it is very important to build a complete evaluation system to evaluate the effect of mergers and acquisitions.The continuous mergers and acquisitions case of Z company is selected as the entry point to study this phenomenon to deeply analyze the increasingly common continuous M&A phenomenon and build a more scientific and comprehensive continuous M&A performance evaluation system.First,the current situation and existing problems of M&A performance evaluation of company Z are elaborated and analyzed,and the causes were analyzed based on the problems described in the M&A performance evaluation.Then a new performance evaluation system of continuous M&A is constructed from three aspects: content design,index selection and model construction.Based on the four dimensions of the balanced scorecard,this paper selects indexes suitable for the study of mergers and acquisitions performance.The hierarchical model is used to calculate the weight vectors of each index.The financial dimension and the non-financial dimension are evaluated by using the efficiency coefficient method and the fuzzy comprehensive evaluation method.After that,the evaluation system was applied to Z company and analyzed the results.Based on the balanced scorecard,the continuous M&A behavior was comprehensively evaluated from four dimensions.Finally,the paper puts forward the guarantee measures for the establishment of the continuous mergers and acquisitions performance evaluation system from several aspects,aiming at promoting the smooth implementation of the continuous M&A performance evaluation system based on the balanced scorecard in company Z.The study of this paper is not only helpful to provide some suggestions for the subsequent M&A integration activities of Z company,but also valuable for the performance evaluation of other companies in the same industry.