H Research On The Motivation And Performance Of Environmental Enterprise Mergers And Acquisitions

In recent years,the state has paid more attention to the ecological environment,and protecting the ecological environment and promoting the construction of ecological civilization have become the common goal of the party and the people.The environmental protection industry is closely related to the construction of the ecological environment.Attaching importance to the development of the environmental protection industry can promote the goal of building a beautiful China.With the support of relevant policies,the development momentum of the environmental protection industry is strong.Research has found that successful mergers and acquisitions can integrate enterprise resources,gain synergies,and help enterprises achieve comprehensive development.Therefore,in a highly competitive market environment,many environmental protection companies choose to achieve strategic integration through mergers and acquisitions.This article selects H environmental protection enterprise to acquire Z environmental protection enterprise.Firstly,it reviews the literature and studies the relevant concepts and theoretical basis.Secondly,through research,we can understand the basic profiles of H environmental protection enterprises and Z environmental protection enterprises,and further summarize the motivation for mergers and acquisitions of H environmental protection enterprises.Then,this article analyzes the performance level of H environmental protection enterprise M&A from three aspects: market performance,corporate value,and social responsibility performance.In terms of market performance,the event study method was used to calculate the cumulative excess return rate.Based on the stock price fluctuations before and after the merger event,it was found that the merger activity presented relatively negative market signals;In terms of enterprise value,through a series of adjustment calculations,the economic value added EVA and EVA return rate are obtained.The results show that mergers and acquisitions have brought some value to H environmental protection enterprises,but the effect is not obvious.As merger and acquisition integration requires time to develop and adjust,more time is needed to observe whether it can bring better merger and acquisition performance in the future;In terms of social performance,this article collected the social responsibility reports of H Environmental Protection Company from 2016 to 2021,using the indicators from 2016 to2018 as pre merger data,and the indicators from 2019 to 2021 as post merger data.Establish a social responsibility evaluation system,calculate the weight of different indicators using entropy method,and compare the social responsibility performance of H Environmental Protection Company before and after the merger.The analysis shows that the economic responsibility of H Environmental Protection Enterprise has increased by4.26 percentage points after the merger,indicating that the merger has increased the economic benefits of the enterprise.In terms of environmental responsibility,the weight of environmental responsibility before and after mergers and acquisitions is the maximum,indicating that the enterprise has not deviated from the development direction in the business process,focusing on environmental protection business.The environmental responsibility performance after the merger and acquisition increased by 10.62%,indicating that the merger and acquisition had a positive impact on the environmental responsibility of H Environmental Protection Company.However,the weight of moral responsibility has decreased after mergers and acquisitions,and moral responsibility will indirectly affect the goodwill and social status of enterprises.Environmental protection enterprises should pay attention to moral responsibility as well as environmental and economic responsibility.Finally,draw inspiration from the case and summarize the research.I hope that this study can provide reference for relevant types of research.