基于BSC的首旅收购如家并购绩效研究.pdf

哈尔滨商业大学硕士学位论文 摘 要 近年来我国酒店行业发展迅速，市场正在迅速整合，各大酒店行业巨头纷纷通过并 购迅速占领市场份额，提升自身竞争力。首旅酒店2016年并购如家酒店一跃成为我国酒 店行业第二，首旅酒店是具有国资背景的大型综合上市公司，如家酒店占据着巨大的经 济连锁型酒店的市场份额并在美国上市，因此此次并购具有较为重要的意义。本文选取 首旅酒店并购如家作为案例，探究企业通过并购的方式是否为企业提升了经营效益，并 购后又将如何提升绩效提升自身的竞争力等问题。从并购绩效的角度入手，探究企业的 并购状况。 根据我国酒店行业发展现状，分析首旅集团并购如家酒店的相关并购绩效问题，梳 理并购绩效相关理论，并重点分析了首旅酒店的并购动因、绩效的影响因素以进一步分 析其并购后的绩效问题。从平衡计分卡的四个维度财务维度、客户维度、内部流程维度、 创新与学习维度分析首旅酒店在并购前后绩效发生的变化，并分析其原因，从而探究并 购对公司绩效的影响，提出酒店行业如何提升并购绩效以及首旅可持续发展的建议与对 策。经分析得出首旅并购如家后对其盈利能力、成长能力、客户、核心竞争力以及学习 与创新的影响较为明显。对其营运能力、偿债能力影响较小，总体来说对其并购后三年 内绩效益影响为正。 关键字：并购绩效； 企业并购； 平衡计分卡 I 哈尔滨商业大学硕士学位论文 Abstract In recent years, Chinas hotel industry is developing rapidly and the market is rapidly integrating. The hotel industry giants have occupied market share and enhanced their competitivenessthrough mergers and acquisitions.In 2016,BTG hotel merged with home inns to become the second in Chinas hotel industry. BTG hotel is a large comprehensive listed company with state-owned capital background. Home inns occupies a huge market share of economic chain hotels and is listed in the United States. This paper selects the BTG hotel merger and acquisition as a case study to explore whether the enterprise has improved its operating efficiency through merger and acquisition, and how to improve its performance and competitiveness after merger and acquisition. From the perspective of ma performance, this paper exploresthema statusofenterprises. According to the development status of Chinas hotel industry, this paper analyzes the ma performance problems related to BTG groups ma of home hotels, sorts out the ma performance related theories, and focuses on the analysis of BTGs ma motivation and performance influencing factors to further analyze the performance problems a