Research On Motivation And Performance Of Restructuring BH Steel Group

With the rapid development of China's economy,the iron and steel industry has gradually changed from a pillar industry,and its development has reached the middle and later stage.With the increasing pressure of environmental protection and the policy of de-capacity,the output of China's steel industry is gradually decreasing.Because of the falling price of steel,the mutual profits among steel distributors are compressed,and the capital chain breaks,which further promotes the market panic and leads to losses in the whole industry.Many enterprises are also caught in debt crisis,financing difficulties,and it is difficult to seek further development.Firstly,this paper reviews the relevant academic achievements of domestic and foreign scholars on M&A performance research,and then summarizes the concepts and theories related to M&A performance.Secondly,from the supply-side structural reform,the background of national industrial policy,the background of optimized allocation of state-owned assets and the development of local economy,this paper discusses the background of BH Group's merger and reorganization,and analyzes the motivation of BH Group's reorganization: first,to enhance the competitiveness of market operation;second,to enhance the synergy between iron and steel enterprises;third,to meet the strategic development needs of enterprises;fourth,to improve the internal structure of the group;Then,it introduces the general situation of BH Group's reorganization,selects reasonable performance evaluation indicators according to the actual situation of the group,and comprehensively evaluates its reorganization performance.On the one hand,the efficiency before and after the reorganization is compared and analyzed;on the other hand,by obtaining the financial data before and after the reorganization,the benefit performance before and after the reorganization is evaluated with the help of four indicators: profitability,solvency,operational ability and development ability.On this basis,the factors affecting the restructuring performance of BH Group are deeply explored,and it is considered that the main factors affecting its restructuring performance are imperfect safeguard measures,unreasonable business system,inaccurate strategic positioning and low efficiency of state-owned enterprise governance;Finally,the typical cases of iron and steel industry restructuring are analyzed,and the relevant experience is used for reference,and the feasible countermeasures and suggestions are put forward.It is pointed out that BH Group can improve the efficiency of restructuring from three directions: clarifying the enterprise development plan,building a reasonable business system and rationalizing the organizational system structure,and improve the efficiency of restructuring from three dimensions: perfecting the system guarantee,optimizing the talent team and optimizing the business process.