Research On Performance Audit Evaluation Of Chinese Enterprises’ Cross-border MERGERS And Acquisitions ——Taking Changjiang Electric Power As An Example

In recent years,the energy industry is facing unprecedented competition and transformation pressure,In order to realize low carbon emissions as soon as possible,the development and utilization of clean energy has become the key development direction of all countries.In terms of power sources,we must reduce the use of coal-fired power,which is a serious source of pollution,and vigorously develop clean energy sources,including hydropower.The case enterprise selected in this paper,Changjiang Electric Power,is not only the largest listed company in China,but also the largest in the world focusing on hydropower generation.In 2019,Changjiang Electric Power announced to acquire Peru LDS,becoming the largest cross-border acquisition case of hydropower and even the entire electric power industry in China.Therefore,the performance audit evaluation of the cross-border M＆A performance is of high research value.Under the general trend of cross-border m＆a and energy upgrading,this paper provides reference for Chinese enterprises to implement strategic layout and optimization of cross-border M＆A by studying the cross-border M＆A of Changjiang Electric Power And combining with the performance audit evaluation of cross-border M＆A.In comprehensive review and comb transnational mergers and acquisitions,as well as research status quo on the basis of performance audit evaluation,combined with the synergies theory,transaction cost theory,the comparison and selection of performance audit evaluation method,using the balanced scorecard and performance prism around its research dimensions and index selection,in view of the Yangtze power cross-border m＆a process of typical vmlinux.lds motivations of mergers and acquisitions,mergers and acquisitions of Peru,Based on performance prism method model is established,the Yangtze river electric power to the data in2016-2020,with shareholders,creditors,employees,customers and the government as the main body of performance audit evaluation of the five levels of content,supplemented by the balanced scorecard financial,customer,internal processes and learning and growth four dimensions to supplement evaluation and validation.From the angle of performance audit evaluation,Yangtze power while in the completion of cross-border m＆a,in research and development investment,provide jobs,debt ratio,a number of aspects,such as poor performance,but in general,a number of data to achieve best,its visibility and market share in the world also has a good ascension,basically achieved the purpose of expanding overseas placement of electricity market.It can be said that it is a more successful cross-border merger and acquisition.However,for the long-term development of the company,the enterprise must complete the resource integration and market integration of LDS as soon as possible,improve the quality of employees,optimize the job division,and further improve the company’s financial performance.