美的集团并购东芝家电的动因及绩效分析

摘要近年来，在国家宏观政策的大力支持下，第二产业由高速增长向高质量发展转变。得益于“家电下乡”等惠民政策，家电在农村也得到广泛使用。美的集团作为家电行业的龙头企业，抓住这次机会对东芝家电进行了并购。为了更好分析此次并购的影响，本文首先研究了美的集团收购东芝家电的动因，在此基础上，通过对并购前后美的公司的财务指标与非财务指标进行比较，来分析收购对美的的影响。根据对并购绩效的分析可以看出，经过这一次并购，美的集团不管是在财务方面，还是在其他方面，都有了很大的提高。美的集团借由东芝家电的技术和品牌走出国门，并与东芝深化合作，实现了双边共赢的局面，使美的集团整体绩效出现积极变化。希望通过对美的集团并购东芝家电的分析，为未来家电企业并购提供参考。关键词：美的集团：并购：并购动因ABSTRACTWith the strong support of the state,the secondary industry is transforming from high-speedgrowth to high-quality development.Because of the promulgation of welfare policies such as"bringing home appliances to the countryside",home appliances have also been widely popularizedin the vast rural areas,and Midea Group's acquisition of Toshiba white goods is a move in thiscontext.Through this acquisition,while using Toshiba brand technology to go overseas,it also hasin-depth cooperation with Toshiba to achieve a win-win situation.From the analysis of Midea'sfinancial performance,it can be seen that both various financial indicators and corporateperformance have been further improved,bringing positive changes to the overall performance ofMidea Group.Through the analysis of the motivation and performance of mergers and acquisitionsin the home appliance industry,it is hoped that it will provide reference for future mergers andacquisitions.Keyword:Midea;mergers and acquistions;M&A motivation目录第1章引言.…1.1研究背景.....1.2研究意义......1.3文献综述..…1.4研究内容及研究方法1.4.1研究内容...21.4.2研究方法...2第2章理论基础...42.1协同效应理论...2.2市场势力理论..·第3章美的集团并购东芝家电的动因分析.......53.1并购双方基本情况.....….53.1.1并购方情况介绍...53.1.2被并购方情况介绍....53.2美的集团并购东芝家电过程...…….53.3并购动因分析.….63.3.1利用协同价值，提升创新能力...63.3.2扩大海外市场，增强竞争能力..63.3.3提升品牌形象，增强品牌号召力...6第4章美的集团并购东芝家电的绩效分析....84.1财务指标分析4.1.1偿债能力分析..84.1.2盈利能力分析..104.1.3发展能力分析.114.1.4营运能力分析..124.2非财务指标分析......134.2.1提高创新能力...134.2.2扩大市场份额..144.2.3增强品牌知名度...15