数基于财务视角的企业并购协同效应研

FINANCIAL PERSPECTIVE--A Case Study of Haier M&A of GE AppliancesAbstractAt present,the rapid development of the global market economy,developed countriesincreasingly need to enhance the core competitive ability through mergers and acquisitions,enterprises through the implementation of mergers and acquisitions to increase the scale ofdevelopment,a high concentration of resources,capital,extending the development goals of theexternal environment of enterprises.Along with the rapid development of the market economyand the continuous promotion of economic globalization,more domestic enterprises have joinedthe M&A team.Nowadays,according to the successful domestic and overseas M&A cases,it isknown that M&A synergy directly determines the success or failure of enterprises implementingM&A.How to deeply understand,identify,develop and realize synergy effect and properly solvethis part of the problem will promote the development of domestic enterprises'M&A,which is ofgreat practical,practical and value significance.In this paper,we focus on the financial indicatorsfrom the perspective of financial analysis,and analyze the synergy effect in depth,so thatdomestic enterprises can learn from it when evaluating the synergy effect of M&A.This paperadopts the qualitative and quantitative evaluation method of accounting indicators,case studymethod,and literature analysis method to conduct a case study of Haier's M&A of GeneralElectric Appliances,and concludes that the determining factors of whether an enterprise canform synergy effects corresponding to its M&A are financial,management,and operationalsynergy effects.The article can be divided into five modules.The first is introduction which mainlydescribes the background,purpose,structure,innovation and literature review.The secondmodule describes the professional theories in the field of M&A and introduces the commontypes of M&A and synergy effects.The third module establishes the index model used toevaluate the synergy effect of M&A.The fourth module presents a case study analysis,selectingthe Haier M&A of General Appliance.The fifth module summarizes and presents conclusions.Keywords:economics globalization,Mergers Acquisitions,Synergistic effect