Research On Comprehensive Performance Of M&A Integration Based On Balanced Scorecard

Since entering the 21st century,economic globalization has been accelerating.In order to better go abroad and enter the international market,Chinese enterprises choose to carry out cross-border M&A at an appropriate time,so as to increase the global market share,learn advanced management experience,and enhance the ability of product innovation.However,enterprises will also bear certain risks when they carry out cross-border M&A.whether they can achieve the goal of M&A has become an important standard to measure the performance of M&A integration.Therefore,we should choose the appropriate research methods of M&A integration performance,make a comprehensive and scientific evaluation of cross-border M&A,and provide experience for the future M&A activities of related enterprises.Based on the balanced scorecard perspective,this paper analyzes the comprehensive performance of M&A integration of Wanhua industry.Firstly,this paper defines the concepts of M&A,cross-border M&A,M&A integration performance and balanced scorecard.Combined with the motivation of cross-border M&A,principalagent theory,contingency management theory and other theoretical basis,this paper describes the process of implementing cross-border M&A and subsequent M&A and listing as a whole of Wanhua industry,and analyzes its motivation.Then,the paper selects relevant indicators from the four dimensions of finance,customer,internal process,learning and growth,and evaluates the comprehensive performance of M&A integration of Wanhua industry through the change of indicator data.Combined with analytic hierarchy process,the importance of indicators is determined by expert scoring,the weight of indicators is determined by constructing a hierarchical structure model,and then the scores of each dimension and the total performance score of M&A integration events are determined by scoring the criteria layer and indicators.According to the score range,this paper makes clear the existing problems in the M&A activities of Wanhua industry and the areas that can be improved,and puts forward optimization suggestions.Finally,the conclusion of this paper is that the case of M&A integration of Wanhua industry is relatively successful,but the internal process dimension of the enterprise needs to be focused on,and the debt paying pressure and product innovation of the enterprise should be paid attention to when M&A.At the same time,it reflects that it is necessary to build the performance evaluation system of M&A integration in order to achieve the strategic objectives of enterprises.This paper not only enriches the theoretical system of performance evaluation method of M&A integration in chemical industry,but also plays a guiding role for the future M&A activities of enterprises in this industry.At the same time,it can also accelerate the synergy effect of M&A of Wanhua industry in reality,promote enterprises to achieve the goal of M&A as soon as possible,and better achieve sustainable development.This paper has 29 figures,21 tables and 91 references.