Research On Continuous Overseas M & A Performance

Overseas mergers and acquisitions help companies achieve economies of scale,bypass trade barriers,accelerate domestic economic transformation,and complete industrial structure upgrades.Companies expect to allocate resources and expand markets globally through overseas mergers and acquisitions;at the same time,China’s "going global" strategy and " The proposal of the “Belt and Road” initiative will help enterprises carry out overseas mergers and acquisitions,making overseas mergers and acquisitions popular.However,some companies have insufficient research and judgment on the purpose and necessity of overseas mergers and acquisitions,and blindly carrying out overseas mergers and acquisitions may face risks such as foreign security reviews,huge debts,and failure to integrate.Therefore,it is necessary to study whether a company’s continuous overseas mergers and acquisitions can produce a positive effect,how companies conduct continuous overseas mergers and acquisitions,and how to integrate resources after the merger and acquisition.This article takes the overseas mergers and acquisitions of Haier Zhijia from 2011 to 2016 as the research object,analyzes the motivations of Haier Zhijia’ s continuous overseas mergers and acquisitions,and conducts a comprehensive evaluation of the performance of Haier Zhijia’ s continuous overseas mergers and acquisitions.The analysis results show that the long-term performance of Haier Zhijia’ s continuous overseas mergers and acquisitions is better than the short-term performance.The market is not optimistic about Haier Zhijia’ s three mergers and acquisitions,and its short-term performance is poor.However,after the implementation of continuous overseas mergers and acquisitions,Haier Zhijia’ s long-term performance is better.After the implementation of continuous overseas mergers and acquisitions,Haier Zhijia’ s input and output efficiency is better;Haier Zhijia’ s financial indicators are at a relatively high level in the same industry,fluctuating and rising from 2011 to 2018,and its operating and development capabilities remain relatively In good condition,the profitability and solvency are slightly lower than their peers;Haier Zhijia’ s company value continues to increase,and the economic value added has continued to increase from 2011,and in 2018 it has tripled from 2011;since 2011,Haier Zhijia’ s The overall performance score showed a gradual improvement,with a slight decrease in 2016 and 2018;in the process of M & A integration,Haier Zhijia has achieved development strategies and management models,brand,technology research and development,domestic and foreign market construction,etc.The better results will increase the competitiveness of Haier Zhijia in global competition.In order to improve the performance of overseas M & A,this article puts forward the following suggestions: adopt the operation mode of "own brand + local operation",integrate resources for innovation,and formulate strategic plans.