A Study On The Impact Of Green M&a And Business Model Innovation On Enterprise Performance

At present,China is in a critical period of "new normal" economic development and transformation of economic development mode.All industries are an indispensable part of the market economy.As a result of market pressure and critical period of economic transformation,traditional enterprises are gradually unable to fulfill their responsibilities,and traditional enterprises have a long history of products and industries,and it is difficult for them to achieve breakthroughs and innovations in original businesses.Leading to a large number of traditional domestic enterprises began to explore the way of transformation,looking for a new profit direction.At the same time,the government has introduced a series of green policies to help traditional enterprises achieve green development.Green M&A is a sword for the economic transformation of traditional industries.It can rapidly absorb green technology and expand green resources required by enterprises through green M&A,which can realize the unity of social economic utility and environmental utility.Tongwei Stock was originally a traditional feed industry,and also involved in aquaculture research and aquaculture.When the development of traditional enterprises entered the bottleneck period,it added a new green photovoltaic industry chain through a series of green mergers and acquisitions,transformed to "feed farming + green photovoltaic",and realized the "double green" development road of green agriculture and green energy.However,can a series of green M&A activities really bring positive performance to the enterprise? Based on this,this paper takes Tongwei Shares as an example to explore its path of green M&A and business model innovation and evaluate its corporate performance.Based on the above background,this paper firstly combs and analyzes the representative literature related to green M&A,business model and enterprise performance,explores the significance of green M&A,types of business model and innovation,and lays a foundation for the case analysis in the following paper.Secondly,this paper uses the single case analysis method to elaborate the general situation of Tongwei Stock and the process of series of green M&A,analyzes and summarizes the motivation of its green M&A and the innovation of its business model after M&A,and explores the mechanism of the influence of green M&A and business model innovation on the corporate performance of Tongwei Stock.Green M&A mainly affects enterprise performance from the macro aspect,while business model innovation affects enterprise performance from the micro level.Finally,this paper compares and analyzes the performance before and after the green M&A of Tongway Shares from three aspects: market performance,financial performance and non-financial performance,so as to verify the impact of green M&A and business model innovation on the performance of Tongway Shares.After in-depth case studies and empirical studies,this paper draws the following conclusions: First,the new business model of "integrated fishing and light" formed through green M&A brings differentiated competitiveness to enterprises.Second,green merger and acquisition events inject new profit growth points for enterprises,so that enterprises can enjoy the dividend of national policies related to green energy,and introduce green technology to reduce cost and increase efficiency of its two main businesses.Third,to create a new business model for enterprises to quickly seize green resources,get the leading clean technology,build consumer loyalty,so that Tongwei Shares to achieve its own high-quality development.Fourthly,the implementation of green M&A and business model innovation of Tongwei Shares has a positive impact on corporate performance,and the positive impact is indeed caused by green M&A through factor analysis.The possible contributions of this paper are as follows: First,by combining the policy orientation with the business decisions of enterprises,this paper conducts a specific study on the series of activities after the green merger and acquisition of traditional feed enterprises,and provides certain references for other traditional industries who are waiting to see whether green economy can bring positive performance to enterprises.Second,the factor analysis method adopted in the financial performance analysis of this paper uses the differential method to construct the M&A performance of enterprises.This method can exclude the influence of objective factors on the M&A performance of the case companies,and can truly and objectively reflect the results achieved by Tongwei Shares in the green M&A case.Thirdly,this paper selects a representative case company-Tongwei Shares for specific research,which can provide more universal reference significance for similar enterprises to make industrial layout in advance and successfully complete green transformation and upgrading.