Research On The Performance Of Joyson Electronic's Merger And Acquisition Of Takata Corporation

In recent years,China's auto parts manufacturing industry continues to develop and progress,but there is still a gap with the advanced level of foreign countries,especially the gap between the core parts technology level is still large,relying on imports,more and more auto parts manufacturers began to acquire technology and international market share through M & a.Among them,the merger and acquisition of Takata Corporation by Joyson electronic has attracted much attention.The research on its merger and acquisition performance can provide experience and guidance for subsequent merger and acquisition of Joyson electronic and other enterprises in the industry.First of all,after studying the domestic and foreign literature,the paper introduces the performance of M & A and the related content of evaluation methods.Secondly,it introduces the situation of the enterprises of both sides,reviews the process of M & A,and analyzes the motivation of Joyson's M & A of Takata.Thirdly,the short-term performance of M & A is good by the event study method;and the long-term performance evaluation system of M & A is established by integrating the indicators related to social responsibility into Balanced Scorecard,focusing on the responsibilities of stakeholders such as government,society and employees,and calculating the weights of each level by combining AHP and standard deviation method,which are calculated by the grey correlation analysis By calculating the grey relation degree between each index and the best index over the years,and analyzing the grey relation quantitative analysis results of each index,it is found that in the year of M & A,the performance of M & A decreases slightly,and then increases significantly,and the long-term performance of M & A is generally good.Finally,the paper summarizes the experience and provides suggestions to further improve the long-term performance of Joyson's M & A for reference.