Synergistic Effect Research On New Energy Meger Of Power Companies

In order for traditional energy enterprises to achieve sustainable development,it is necessary to accelerate the restructuring of enterprises,optimization of product structure,and reform of the system to enhance the competitiveness of enterprises in the market.In recent years,the wave of mergers and reorganization represented by stateowned enterprises has prompted traditional power enterprises,mainly thermal power,to join the ranks of mergers and reorganization.Currently,China’s electric power industry is in a special period of strategic transformation and operational transformation,and electric power enterprises must base on a new strategic height,pay attention to reviewing M&A activities and seize opportunities for successful transformation.Therefore,it becomes the focus of this paper to construct a M&A synergy evaluation index system suitable for China’s traditional power enterprises after merging with new energy power enterprises.Based on this background,this paper researches the performance evaluation status of M&A synergy effect after traditional energy and power enterprises merge and acquire new energy and power enterprises.Firstly,the mainstream M&A synergy evaluation index system at home and abroad is studied.After analyzing the characteristics,status quo,M&A motives and future development trend of electric power industry of existing traditional electric power enterprises and new energy electric power enterprises,this paper constructs a new energy synergy of electric power enterprises from four major aspects:operational synergy effect,financial synergy effect,management synergy effect and intangible asset synergy effect.This paper constructs an index system of M&A synergy effect for electric power enterprises.Secondly,the method of evaluating the synergy effect of M&As was optimized,and the weights of each index were determined by using entropy value method and AHP method combined with assignment method,and the annual M&As synergy effect of each sample was comprehensively scored and analyzed.The evaluation results showed that the new energy M&A of power companies achieved good synergy effects in the short term,but in the long term,such synergy effects were not obvious and showed a decline in the second year after the M&A.Operating synergy and management synergy achieved positive synergy in the year of M&A,and financial synergy and intangible asset synergy achieved positive synergy in the year after M&A activities.On this basis,combined with the findings of this paper,countermeasures to further enhance the synergy effect of new energy M&A of electric power enterprises in China are proposed.By establishing an index system for evaluating the synergy effect of new energy M&A of electric power enterprises,this paper aims to provide ideas for the development of Chinese electric power enterprises in the process of strategic transformation.The innovation points of this paper mainly include the following:First,in terms of research object,this paper selects the event of traditional electric power enterprises merging and acquiring new energy electric power enterprises as the research object,which has a strong relevance.Secondly,in the selection of evaluation indexes,this paper starts from four dimensions of financial synergy effect,operational synergy effect,management synergy effect and intangible asset synergy effect,and conducts correlation tests on each financial index to make the index system more comprehensive and scientific.Thirdly,in terms of evaluation methods,this paper uses the combination of AHP and entropy method,which can effectively solve the shortcomings of objective method in data randomization while reducing the subjectivity of hierarchical analysis method.