| As the current industrialisation of society continues to advance,the situation facing environmental management is becoming more and more serious as China faces increasing contradictions between its rapidly developing economy and frequent environmental problems.In recent years,in order to prevent environmental pollution,avoid continued environmental degradation and maintain ecological balance,China is also actively implementing various reform initiatives in environmental protection,with an eye on the green development of the environmental protection industry,providing unprecedented opportunities and conditions for the development of a new situation in environmental governance.Under the national trend of green development,the environmental protection industry is aware of this opportunity,and by constantly seeking and exploring the green development path hoping to seize this opportunity,environmental protection companies are increasingly willing to green M&A.As China’s environmental protection consciousness and the development of environmental protection enterprises have started late,they do not have enough experience and measures to deal with the many problems and challenges they face in the process of green development,but foreign countries are more mature in this area of thinking and technology after a period of rapid development,so many environmental protection enterprises in China tend to absorb foreign advanced environmental protection technology and green management concepts through green M&A.Therefore,many environmental protection enterprises in China tend to absorb advanced foreign environmental protection technology and green management concepts through green M&A,draw on the excellent foreign green corporate culture,and advocate green innovation,which can not only quickly break the technological barriers and provide strong support for the enterprise’s own technological upgrading,but also transform the old thinking and old concepts of the enterprise,integrate advanced cultural concepts into the enterprise’s own culture,effectively integrate the advantageous resources of both sides of the M&A,further improve the management efficiency of the enterprise and asset.On the other hand,it can also transform the old thinking and old ideas of the enterprise,integrate advanced cultural concepts into the enterprise’s own culture,effectively integrate the advantageous resources of both parties,further improve the management efficiency and operational efficiency of the enterprise,and lay the foundation for the sustainable development of the enterprise.This paper uses case study method,literature research method and comparative analysis method,based on the concepts related to green M&A and green M&A performance and the current research status,through a comparative analysis of the before and after data of the case of China Tianying’s green M&A of U Company,to study whether green M&A has an impact on corporate performance,whether the impact is positive or negative,and at the same time,combined with relevant information and data of the case companies,on the basis of the case study,to further analyse the mechanism of the effect of green M&A on corporate performance and whether the synergistic effect is exerted after the M&A.The study found that green M&As did effectively improve the financial,environmental and social performance of the case companies,and not only improved their own performance,but also established a positive image of environmental companies,increasing the satisfaction of society and people with environmental companies.It also provides a new perspective and new ideas for research related to green M&A and provides more references for research related to the impact of green M&A on corporate performance. |