Research On The Performance Evaluation Of Hisense Video's Acquisition Of Toshiba TVS Based On The Balanced Scorecard

With a trend of economic globalization,the flow of Outward Foreign Direct Investment is growing rapidly,in which cross-border M＆A is one of the main ways of foreign investment.More and more Chinese enterprises "going global" set off a wave of cross-border M＆A around 2016 and became the main force of cross-border M＆A.Due to the saturation of the domestic market and the demand for expanding overseas business,the home appliance industry is particularly active in cross-border M＆A.This paper selects the representative case of Hisense Visual acquisition of TVS as the research object for M＆A performance evaluation,in order to truly reflect M＆A performance and provide help for optimizing the subsequent integration of Hisense Visual.Based on the Balanced Scorecard,combined with the Ministry of Finance management accounting application guidelines No.603-Balanced Scorecard,this paper describes the relationship between M＆A performance and enterprise strategy according to the case situation,and clarifies the realization path of M＆A objectives.On this account,this paper selects indicators from the five levels of finance,customers,internal process,learning and growth and social responsibility,and establishes the M＆A performance evaluation system.Using the designed evaluation system,this paper makes a comparative analysis of the performance indicators of the first three years and the second three years of the case,and evaluates the realization degree of the M＆A objectives and the subsequent integration effect.The analytic hierarchy process is used to summarize all dimensional indicators for comprehensive scoring,and the score is6.7943.It is concluded that the M＆A performance is between average and slightly better.Hisense Visual has achieved the M＆A objectives to some extent,but there is still a lot of room to improve the M＆A performance.In view of the problems found in the evaluation process,this paper puts forward optimization suggestions for the subsequent integration of Hisense Visual from all dimensions,in order to help the M＆A cases achieve the best integration effect,and provide reference for other home appliance enterprises to improve the M＆A performance.