| When a company’s development is in a bottleneck or is eager to expand,mergers and acquisitions are often the most important way for companies to develop.With the increasing scale of mergers and acquisitions,scholars are paying more and more attention to the performance of enterprises after mergers and acquisitions,and more and more researches have been carried out.However,many research methods are diverse.After comparing the advantages and disadvantages of various performance research methods,this article Two performance evaluation methods of economic value added and balanced scorecard are selected to study the performance of corporate mergers and acquisitions.The use of economic value added and balanced scorecard,through multi-dimensional and multi-angle analysis,can comprehensively and truly evaluate the performance of corporate mergers and acquisitions.This article takes the case of Monarch’s merger with Oceano as the research object,and through the establishment of a research system of economic value added and balanced scorecard,conducts an in-depth and comprehensive study on the performance changes of Monarch before and after the merger.I hope this research can be used for research on mergers Performance scholars and M&A participants provide a new idea and method of performance evaluation,which can provide a certain reference value for other companies’ M&A performance evaluation.This article uses three research methods,including literature review method,comparative analysis method,and case study method.It conducts research through the representative M&A case in the sanitary ware industry-Monarch’s acquisition of Oceano.This article introduces the situation of both parties to the merger and acquisition in detail,analyzes the motivations of the merger of Monarch,introduces the process of the merger,the payment method of the merger and the characteristics of this merger.Based on the analysis of multiple performance evaluation methods,the economic value added and the balanced scorecard are combined to construct a performance evaluation system,and then through the use of this system,the multidimensional performance of Monarch before and after the merger in 2018 Detailed adjustment calculation and analysis,Through the analysis of the economic value added and the balanced scorecard,it is found that the performance of the four dimensions of Monarch’s finance,customers,internal processes,learning and innovation after the merger has increased,and the growth of the performance of these dimensions has greatly increased the value of the company.It shows that the M&A of Monarch was successful,but after the M&A there were also problems such as cash shortage,rising non-performing asset rate,low advertising investment,and insufficient cultural construction.After analyzing the problems,this article puts forward the corresponding problems.The countermeasures to solve the problem are optimizing the source of corporate funds,enhancing internal integration of the enterprise,enhancing marketing with multiple advertisements,and strengthening cultural construction. |
