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Research On The Motivation And Performance Of Continuous M&A Of Country Garden Services

Posted on:2024-09-27Degree:MasterType:Thesis
Country:ChinaCandidate:Z L JiangFull Text:PDF
GTID:2569307100493634Subject:Business Administration
Abstract/Summary:PDF Full Text Request
With the development of market economy and the intensification of market competition,a considerable number of listed companies take the important expansion method of mergers and acquisitions(M&A)as an important tool to realize corporate strategies,and gradually accelerate the pace of M&A to produce better performance,which makes continuous M&A a new feature in the trend of M&A in China.As a leading listed enterprise in the domestic property industry,Country Garden Services effectively improves the financial performance of enterprises through continuous M&A,which is representative of research.Taking Country Garden Services as the research object,combined with relevant M&A theories,this thesis analyzes the external and internal drivers of the continuous M&A activities implemented by the company from 2018 to 2021,and then studies and evaluates the performance of continuous M&A activities through the Tobin Q method based on market performance,the financial index method based on financial performance and the non-financial performance analysis method.The research results show that the external motivation of Country Garden Services’ continuous M&A activities is reflected in the influence of the national political and legal environment,changes in the economic situation and industry concentration,the promotion of social demand,and the renewal of smart services.The intrinsic motivation lies in improving the strategic layout of the enterprise with the scale of property management,obtaining resources to achieve synergistic complementarity and diversified management,enhancing corporate brand awareness to achieve value-added,and conducting market value management to obtain financing convenience.In terms of market performance,the market performance of the company’s continuous M&A is generally good,which is conducive to the expansion of Country Garden Services’ own production and services.In terms of financial performance,the company’s main financial performance after successive M&A is generally sound,with significant revenue growth,particularly in its outstanding growth ability and debt repayment ability,but continuous M&A have limited the improvement of Country Garden Services’ profitability,and overall failed to improve its operating capacity.In terms of non-financial performance,Country Garden Services has basically achieved a nationwide layout through the implementation of the expansion strategy of continuous M&A,with the prominence of scale effect.Continuous M&A have greatly improved the scale of enterprise management and brand effect,increased market influence,improved synergy and operational efficiency.Therefore,this company’s overall M&A performance is in line with expectations,whereas there are also some problems.Aiming at them,this thesis combines relevant M&A theories to put forward relevant suggestions.Finally,the summary and prospect are carried out in order to expand and supplement the theoretical research of enterprise M&A to an extent.The writer also hope to provide a certain practical reference for enterprises of the same type in the same industry to use M&A to improve the level of post-merger performance as well as level of post-merger asset management,and help enterprises optimize choices in Continuous M&A.
Keywords/Search Tags:property management, continuous M&A, M&A motivation, M&A performance
PDF Full Text Request
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