| In recent years,foreign mergers and acquisitions have occurred from time to time,especially China’s large private companies have merged and reorganized foreign companies.However,such acquisitions have high risks.Moreover,due to the high possibility of failure,it is particularly critical to carry out risk analysis and lessons learned.This paper uses the balanced scorecard,a more comprehensive measurement index,to investigate the operating performance of J company after the acquisition of W company,and analyzes its influencing factors,so as to get some useful inspiration for future companies to make overseas acquisition decisions and guidance.In recent years,Chinese companies have adopted the method of merger and acquisition to enter overseas in order to expand their business scope and achieve the purpose of transnational operation.In 2014,J company bought all relevant assets and shares of W company,which is a phenomenon of "snake swallowing elephant" and has attracted extensive attention all over the world.However,due to the high risks abroad,whether we can achieve good cooperation results abroad and improve the business performance of enterprises has been widely valued.At present,the M ＆a performance evaluation of Listed Companies in China mainly adopts Du Pont analysis method,economic value-added method,event research method and other evaluation methods.Through the performance evaluation of Guli’s acquisition of W company,this paper comes to the conclusion that the balanced scorecard is used for performance evaluation.This paper first expounds the theoretical basis of this paper,that is,balanced scorecard theory and enterprise M ＆a theory,and then makes a brief comment on J company’s M ＆A by taking J company’s M ＆A of W company as an example.The company history,reasons and processes of W company adopt the balanced scorecard method.This paper analyzes the company’s internal process,financial learning ability and financial development ability from four aspects: J;Customer perspective includes brand attention,customer satisfaction and customer acceptance;From the perspective of the company’s internal process,including the reform of market system and the change of expenses during the period,from the aspects of employee training,R ＆D investment,human resources and cultural integration.Through the empirical research on the above indicators,it is found that company J has performed well after the acquisition of company W,and the integration has achieved good results,so as to achieve the synergy among enterprises.It is a successful acquisition.On this basis,the successful cases of J company’s merger and acquisition of W company are summarized and summarized from the aspects of financial synergy,customer satisfaction,internal process operation efficiency,cultural synergy and so on. |
