Research On The Comprehensive Performance Evaluation Of Tencent’s Merger And Acquisition Of Sogou Based On The Balanced Scorecard

With the deepening of economic globalization,China’s economy has ushered in rapid development,and China’s market structure and consumption structure are very different from the past.Economic globalization has made the system of all walks of life more perfect and more mature,and also intensified the competition of all walks of life.Of course,the Internet industry is no exception.Now the Internet has covered all sides in people’s life,the Internet industry mergers and acquisitions activities can enhance the core competitiveness of Internet companies,through the enterprise mergers and acquisitions strategy to expand its business scope and development scale,increase market share,optimize the allocation of resources,is conducive to enterprise sustainable development for a long time.In the environment of frequent mergers and acquisitions of enterprises,whether enterprises can achieve the effect of schedule after mergers and acquisitions has also caused people’s high attention.Internet enterprises have the characteristics of "asset-light",how to test whether the effect has been achieved after mergers and acquisitions is a problem worth considering.Therefore,for the mergers and acquisitions of Internet enterprises,it is very necessary to find a scientific and comprehensive comprehensive performance evaluation method of enterprise mergers and acquisitions.This paper research object is Tencent M&A Sogou this case,Tencent acquisition process,before and after Sogou,merger motivation and merger and comprehensive performance,select Tencent from 2018 to 2022,5 years of relevant data,based on the balanced scorecard perspective,from the financial,customer,internal process,learning and growth of four dimensions comprehensive objective evaluation of the performance of the merger and acquisition,using event research method comprehensive analysis of the merger and acquisition activity impact on the enterprise stock price,observe the market reaction for the merger and acquisition activity,summarizes the merger and acquisition events and the problems existing in the process of mergers and acquisitions put forward relevant countermeasures and Suggestions.The research methods of this paper include event research method,balanced scorecard,literature research method and case analysis method,etc,in a comprehensive scientific analysis of Tencent merger and acquisition of Sogou cases.This paper is divided into six chapters,the first chapter is the introduction,this part mainly includes the research background of the paper,research purpose and research significance,the relevant domestic and foreign literature is summarized,introduced the research content,research methods and innovation points of the paper.The second chapter expounds the relevant concepts and basic theories of enterprise merger and acquisition,merger and acquisition comprehensive performance and balanced scorecard,and compares and analyzes the advantages and disadvantages of the traditional performance evaluation methods and balanced scorecard.The third chapter is the merger and acquisition case part,which mainly introduces the current situation of China’s search industry,the process of Tencent and Sogou,and the comprehensive and thorough analysis of the internal and external motives of Tencent’s merger and acquisition of Sogou.Chapter 4 uses the event research method and the balanced scorecard to build the market performance analysis system and the enterprise merger and acquisition performance analysis system respectively,and then uses the constructed system to evaluate the comprehensive performance of Tencent’s merger and acquisition of Sogou.It also analyzes the results of the merger and acquisition,and finds some problems in the process of merger and acquisition.Chapter 5 based on the performance analysis of mergers and acquisitions and the existing problems,put forward how to improve the feasibility of Tencent acquisition Sogou comprehensive performance countermeasures and Suggestions,conform to the enterprise strategy development,develop reasonable financing way,integration of high quality resources,actively cooperate with other enterprises to ensure their own development advantages,consolidate industry position,enhance the enterprise financial synergies,and improve the relevant laws and regulations,improve the market operation mechanism.Chapter six is the research summary and research outlook of this paper,which summarizes this paper,expounds the research outlook and the next step to be studied.The analysis of Tencent M&A Sogou case has a strong representative,the study combines the characteristics of the development of the enterprise and related research literature,combined with the event research method and the balanced scorecard comprehensive and objectively evaluate the market performance and mergers and acquisitions performance,and according to the comprehensive performance of the results,analysis what problems exist in the process,Suggestions to improve the comprehensive performance of Internet enterprise mergers and acquisitions,and summarizes the experience of the Internet enterprise mergers and acquisitions,for subsequent research of Internet enterprise mergers and acquisitions to provide new reference value,has certain reference significance.