Research On The Motivation And Performance Of Continuous Mergers And Acquisition Of Industrial Robot Enterprises

Under the background of more and more frequent merger and acquisition activities and the amount of mergers and acquisitions involved at home and abroad is also increasing,the frequency of continuous merger and acquisition activities of listed companies in China is also getting higher and higher.Therefore,whether continuous mergers and acquisitions can have a positive impact on the performance of enterprises and achieve the development goals of enterprises is worthy of in-depth research and discussion.This paper first summarizes the relevant concepts of continuous merger and acquisition,explains and defines them,and explains the relevant theoretical basis of continuous merger and acquisition,and sorts out the motivation and performance research literature of continuous merger and acquisition of domestic and foreign scholars.Using the case analysis method,it analyzes the continuous merger and acquisition activities of Eston,divides its development strategy and the merger and acquisition situation into stages,and introduces the motivation of the continuous merger and acquisition of Eston in stages.Through the event research method,financial index method,factor analysis method and non-financial index method to analyze the short-term market reaction,financial performance,comprehensive performance and non-financial performance,finally the conclusion and enlightenment of this paper are obtained.After the analysis,This paper finds that the continuous acquisition motivation of Eston in the expansion subdivision stage is mainly to fill the technical gap,Broaden the business,Accelerate the company’s layout in the market segment;Continuous mergers and acquisitions in the transformation and upgrading stage,Mainly to optimize its industrial structure,To complement the technical capability,To realize the company’s transformation to the middle and high-end development,Using the synergies of sequential acquisitions in technology and market,Build the competitive advantage of the whole industrial chain to give play the agglomeration effect;Acquisition motivation in the internationalization phase,Mainly is to obtain the target company’s first-class technology and product line,Enter the international middle and high-end market,Make its international positioning in terms of brand,technology and marketing channels,To build the core competitiveness of enterprises with a global perspective,Seize the domestic and foreign market share.By analyzing the short-term market performance in the event study method of Eston’s continuous M & A,eston’s continuous M & A activities performed poorly in the stage of expansion and segmentation,and had good positive benefits in the stage of transformation and upgrading and internationalization.Analyanalyzing the long-term performance of Eston by the financial index method,continuous merger and acquisition has debt repayment risk,operating risk and low profit level.Without good integration of continuous merger and acquisition in the previous stage,the next merger and acquisition begins,which is eager to achieve success.In terms of financial performance,eston through continuous mergers and acquisitions,realize the whole industry chain layout,research and development innovation ability,"general +segmentation" strategy implementation success,seize the market share,through a series of international mergers and acquisitions into the international industrial robot first camp,to internationalization.Based on the above analysis,it is concluded that the enterprise should pay attention to the following three points when choosing continuous merger and acquisition: continuous merger and acquisition should make plans according to the enterprise development strategy,clarify the motivation and object of merger and acquisition,and the resource integration problems after continuous merger and acquisition should be paid attention to.The enlightenment obtained through analysis can provide experience for the better practice of continuous mergers and acquisitions in China’s industrial robot industry.