Research On The Performance Evaluation Of Cross-border Mergers Of Kuka By Midea

With the development of the economy and the improvement of the degree of globalization,more and more enterprises achieve their development goals through mergers and acquisitions,including expanding their brand influence,acquiring advanced technologies,and integrating excellent management experie nce at home and abroad.In order to expand their competitive advantages in global competition,Chinese enterprises have also adopted mergers and acquisitions to achieve all aspects of improvement.Midea Group is a well-known home appliance company in my country.It successfully entered the robot industry with policy support and good market prospects through the acquisition of German KUKA.This article adopts a case study method to evaluate the performance of this typical cross-border merger and acquisition case,and provides a certain reference for the merger and acquisition behavior of China’s home appliance companies.This article contains five chapters.The first chapter is an introduction,introducing the research background and significance of mergers an d acquisitions of Midea.And the literature review provides some theoretical support for this paper.Then it introduces the research content and the methods.It provides the research framework of this paper.The second chapter introduces the relevant theori es of cross-border mergers and acquisitions performance evaluation,introduces the definition,characteristics and basic concepts of cross-border mergers and acquisitions performance.It introduces the methods used in the performance evaluation.The third chapter is the case overview of Midea’s cross-border merger and acquisition of Kuka.The paper introduces the basic situation of Midea and Kuka.Then it sorts out the process of the merger and acquisition event and analyzes the motivation of Midea’s cross-border merger from the perspective of its corporate strategy.The fourth chapter is the evaluation of merger performance.Firstly,the Event Study method is used for short-term performance evaluation,and it is found that the short-term market wealth effect of mergers and acquisitions is good.Then this paper adopts quantitative research method to evaluate the financial performance of mergers and acquisitions,qualitative research method to evaluate the non-financial performance of mergers and acquisitions.It can be found that the results vary,with some positive and some negative.But generally speaking,the long-term performance is better.The fifth chapter is based on the above research conclusions.It makes recommendations for Midea,enlightenments for other companies in China to conduct cross-border mergers and acquisitions.This paper studies the typical case of Midea’s cross-border merger and acquisition of Kuka.It analyzes the motivation of Midea.The paper aims to find the shortcomings of the merger and acquisition through the performance evaluation of this typical case.Putting forward Suggestions for Midea,bringing enlightenment to other appliance enterprises’ merger and acquisition activities.