Author(s)

Yuhui Tian

Corresponding Author

Yuhui Tian

ABSTRACT

With the continuous development of the economy, the role of mergers and acquisitions in listed companies to achieve industrial upgrading, optimize resource allocation and cope with the changing market environment is increasingly important. The traditional M&A performance evaluation method focuses on the evaluation of financial factors [1], and pays great attention to the financial indicators such as income and profit after the merger, but often ignores the non-financial factors such as customer relationship, internal process and human resources. The impact of research, the drawbacks of traditional performance evaluation methods are increasingly revealed. The Balanced Scorecard adds non-financial indicators to M&A performance evaluation [2]. It is no longer only concerned with the financial aspects of M&A. It also incorporates non-financial factors such as customer level and internal processes after M&A into M&A performance evaluation, more comprehensively. Make a complete and objective evaluation of M&A performance. This paper analyzes Ctrip M&A based on the four-dimensional theory of balanced scorecard, namely financial coordination, management coordination, business synergy and market advantage.

KEYWORDS

M&A performance, Balanced score card, Ctrip, Qunar