Research On The Triple Performance Evaluation System And Application Of Green Mergers And Acquisitions

In recent years,China has begun to focus on the quality of economic development,rather than blindly pursuing speed growth and ignoring the construction of the ecological environment.In order to reconcile the contradiction between economic development and environmental protection,the government has successively introduced a series of environmental protection related policies.The cement industry occupies a crucial position in China’s national economic construction.As the growth rate of China’s national economy has slowed down,the downward pressure on the economy has increased sharply.The development of the cement industry has also encountered many difficulties,such as low industry concentration,serious overcapacity,huge losses,and severe pollution situations.With the continuous introduction of environmental regulatory policies,the cement industry is in urgent need of green transformation.However,enterprises’ own research and development of solid waste disposal requires a large amount of production investment and takes a long time,which hinders the future development of the enterprise.At this time,green mergers and acquisitions that can quickly obtain the target enterprise’s green technology become one of the important ways for the cement industry to upgrade technology,reduce environmental pollution,and transform to the environmental protection industry.But how to measure the performance of green mergers and acquisitions? What is the performance of green mergers and acquisitions in corporate performance? Can it actually improve corporate performance? With the gradual increase of green mergers and acquisitions in the cement industry,these issues have attracted a lot of attention.In response to the above issues,this article adopts the literature research method,case analysis method,and investigation research method,combined with the green M&A event of Jidong Cement’s acquisition of mangrove environmental protection,and based on the triple bottom line theory,constructs a performance evaluation system for Jidong Cement’s green M&A,and then uses the analytic hierarchy process to assign indicator weights.Using various financial and non-financial data of Jidong Cement from 2017 to 2021 as a sample,calculates various indicator scores and conducts performance analysis,Finally,draw conclusions and provide relevant suggestions from the government,industry,and enterprise levels.This article carries out specific research from six aspects.Firstly,it explains the research background,significance,literature review,research ideas,research methods,research content,research innovation,and shortcomings;Secondly,it elaborates the relevant concepts,theoretical basis,and policy background of green M&A;The third is the implementation process of green M&A,including enterprise overview,M&A motivations,and specific processes;The fourth is the construction process of a triple performance evaluation system for green mergers and acquisitions,including the construction of ideological principles,the construction of performance indicator systems,and the application of analytic hierarchy process;The fifth is the application of the triple performance evaluation system in green mergers and acquisitions of Jidong Cement.Based on sample data,performance scores are calculated and the triple performance of enterprises is analyzed to obtain the application effect of the triple performance evaluation system;Finally,the research conclusions of this article,relevant countermeasures and suggestions based on the conclusions,and research prospects.Through the above research,the main conclusions and work achievements of this article are summarized in three aspects:(1)Based on the triple bottom line theory and the strategic goal of green transformation of enterprises,this article constructs a triple performance evaluation system for green mergers and acquisitions of Jidong Cement;(2)Jidong Cement has performed well in the short term after implementing green mergers and acquisitions,but its improvement effect has decreased in the long term;(3)The triple performance evaluation system for green mergers and acquisitions of Jidong Cement has certain reference value for the performance evaluation of the cement industry.In response to the above conclusions,this article recommends that the government improve the cement industry information disclosure system and performance evaluation standards;Other enterprises in the industry should reasonably plan merger and acquisition strategies and adhere to the principle of sustainable development when conducting green mergers and acquisitions;In the future,Jidong Cement will strengthen its own information disclosure and improve its profitability by reducing production factor costs.This article enriches the research results of green M&A performance evaluation in the form of case studies,and hopes to provide reference for enterprises in the same industry to make green M&A decisions and implement green transformation.