Title: The Impact of Mergers and Acquisitions on Financial Performance of New Chemical Materials Enterprises – A Case Study of Jinfa Technology’s Acquisition of Baolai
Author: Yan Yuanmeng
Advisor: Dr. Zhang Li
Degree: Master of Business Administration
Major: Finance and Accounting
Faculty: บัณฑิตวิทยาลัย (Graduate School)
Academic year: 2567 (2024)
Published: The 8th STIU International Conference “TechVision Leadership: Fostering Social Sustainability” July 4-5 2024 (pp.523-531) Proceedings PDF
Abstract
With the accelerated development of globalization, new materials have become an important pillar of national economic development, playing a vital role in high-end manufacturing and the national defence industry, and becoming the focus of international strategic competition. China’s new materials industry has been considered an important part of the seven strategic emerging industries, providing a solid foundation for the development of the nation’s manufacturing industry. This study took the case of the acquisition of 51.09% stake in Baolai by Jinfa Technology. The objectives of the study were: 1) To explore the impact of operational synergy on the financial performance of Jinfa Technology; 2) To explore the impact of financial synergy on the financial performance of Jinfa Technology and 3) To explore the impact of managerial synergy on the financial performance of Jinfa Technology.
This study adopted the quantitative research method to gain an in-depth understanding of the status quo of the financial performance of Jinfa Technology, with Jinfa Technology as the research subject. A total of 240 valid questionnaires were collected in the questionnaire survey, and SPSS statistical analysis software was further used to analyze the influencing factors behind this status quo in depth. Reliability analysis, descriptive statistical analysis, correlation analysis and regression analysis were conducted on the valid data.
This study found that the operational, financial and managerial synergy of Jinfa Technology all have a significant positive impact on its financial performance. Operational synergy directly contributed to the improvement of financial performance by enhancing resource utilization efficiency and market competitiveness; financial synergy indirectly enhanced profitability by optimizing capital allocation and controlling costs; and managerial synergy further contributed to the growth of the company’s financial performance by enhancing management efficiency and decision-making quality.
Keywords: mergers and acquisitions, synergy effect theory, financial performance
The Impact of Mergers and Acquisitions on Financial Performance of New Chemical Materials Enterprises – A Case Study of Jinfa Technology’s Acquisition of Baolai /
6617195009 Yan Yuanmeng 2567 (2024) The Impact of Mergers and Acquisitions on Financial Performance of New Chemical Materials Enterprises – A Case Study of Jinfa Technology’s Acquisition of Baolai สารนิพนธ์ (Independent Study), Advisor: Dr. Zhang Li, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, Finance and Accounting, Bangkok: Siam University