Research On Merger And Acquisition Performance Of Huayu Software

As the capital market continues to develop,it is accompanied by an increasing number of M & A transactions.M & A is an effective way to help companies achieve expansion and growth in a short period of time.Many large U.S.companies have emerged in response to the five waves of mergers and acquisitions experienced by the global market,which has established the United States in the global economy.It also promoted the development of industries in the western developed countries represented by the United States.With the formal implementation of China's "Administrative Measures for the Acquisition of Listed Companies" and "Administrative Measures for the Major Assets Reorganization of Listed Companies",Chinese enterprises have ushered in a new wave of mergers and acquisitions.However,there is no unified view in academia that shareholder value can be created after the acquisition of target companies.According to the empirical research literature at this stage,it is known that the most commonly used methods in academic circles when studying the performance of corporate mergers and acquisitions are accounting index research and event research.Each method has its own advantages and disadvantages,and it is important to establish a comprehensive performance evaluation system in corporate mergers and acquisitions.At present,it is not possible to determine a method that can accurately,reasonably and comprehensively evaluate the performance of mergers and acquisitions.Based on this,this article attempts to build a more comprehensive M & A performance evaluation system using the event research method,accounting index method and factor analysis model.In the research process,firstly,the background and significance of the topic are expounded.This paper summarizes the domestic and foreign literature on m&a motivation,M&A performance evaluation method and m&a empirical research,and makes comments on the related literature,and summarizes and extracts the main viewpoints.This paper introduces the research content,method,framework and innovation points.In terms of research content,this paper selects Huayu Software as the research object.At present,there are relatively few scholars who have studied the software industry.This paper comprehensively evaluates the specific impact of Huayu software ACQUISITION activities on its business performance and draws some inspirations,which is practical to a certain extent.In this paper,event research method,accounting index method and factor analysis model are used to construct the M&A performance evaluation system to carry out m&a performance analysis so as to enrich the research results of m&a performance in China.Secondly,this paper expounds the theoretical basis of m & A motivation and the evaluation method of m & A performance.Then,a brief analysis is made of the continuous m&a cases of Huayu Software,and the performance of huayu Software M&A is mainly evaluated.The short-term m&a performance of Huayu Software is evaluated by the event study method,and the short-term market response is not ideal.The accounting index method was used to analyze the medium and long term performance of Huayu software merger and acquisition,and it was concluded that the medium and long term synergies were not obvious.The factor analysis model is used for comprehensive performance analysis,and the conclusion is proved again.Finally,some suggestions are put forward to provide some references for other enterprises in the software industry.