Merger Performance From The Perspective Of BSC

Companies want to branch,one way is to enlarge its capability inside the company,the other is to merge.Because merger can make a company achieve leap growth in a relatively short time,it is a popular way for many big companies to adopt to develop.But does merger really bring to better company performance is always a dispute among different researchers.I bring BSC(Balanced Score Card)into the evaluation of merger performance,from the point of view the four dimensions of BSC: Financial?Customer?Internal Business Processes ? Learning and Growth,designing some specific targets and weights to estimate the change before and after the merger.Compared to traditional ways of calculating the financial indicators,BSC provide a way emphasize not only short term index but also long term performance,not only leading indicators but also lagging indicators,it is a relatively well-established system.By analyzing the performance change before and after the merger,this paper aimed at explaining the impact of the merger.This paper takes the merger between HUACE FILM&TV and CROTON for example,using BSC as the method,aimed at researching the performance change after the merger.The result showed in financial dimension and operating capacity,profitability had no improvement;Capital structure was optimized by the merger;Short-term liquidity had no improvement and capacity was optimized,but the increase of income was lower than similar companies.The merger improved company performance by 27.5%.As a supplement of a lack of such research in film and TV field,this paper is hoping to provide some accurate basis for making policy and to provide methods for the company to improve its company performance.