企业并购的绩效管理研究

AbstractAs an emerging industry,the Internet industry continues to increase in number,andlarger companies continue to expand,making new entrants lack effective competition.Therefore,many companies choose to enter the Internet industry through mergers andacquisitions.The cost of acquiring customers in the Internet industry is relatively low,andthe same users can bring effective synergies from businesses in different fields.Therefore,diversified mergers and acquisitions with close connections between businesses havebecome the first choice of Internet companies.While mergers and acquisitions bringopportunities to Internet companies,there are also merger risks.The integration effect isthe main reason for the success or failure of mergers and acquisitions.This effect can beconfirmed by performance analysis.This paper selects relevant cases to study whethermergers and acquisitions can bring benefits to shareholders,and provides certain referencesignificance for relevant merger cases.This article uses Alibaba's M&A "Eleme"as a case to conduct a comprehensive andmulti-angle analysis,including research on Alibaba's M&A motivations and mergerintegration,and comprehensively measure the impact of M&A integration on performance.This article measures the comprehensive performance of"Alibaba"M&A "Eleme"in termsof financial performance and non-financial performance.Finally,combined with this case,it provides suggestions on the merger and acquisition of Internet companies.The main research conclusions of this article are:First,the motive for the acquisitionof Eleme by "Alibaba"is mainly to gain more market share while advancing the strategiclayout of "Alibaba"new retail.Secondly,after analyzing the financial indicators of"Alibaba",it is found that although the profitability and operating capacity of "Alibaba"after the merger have declined slightly,it does not affect the overall development and thegrowth ability is still good.Short-term debt solvency declined,and long-term debtsolvency was relatively stable.Finally,this article analyzes non-financial indicators andfinds that through this merger and acquisition "Alibaba"has gained more market share,promoted the strategic layout of new retail and improved its own logistics distributionsystem.2