基于熵理论的海尔智家并购GEA协同效应研究

Research on the Synergy Effect of Haier Zhijia's Merging and Acquiring GEA Based on Entropy Theory

企业间的并购一定程度上促使双方资源配置不断优化和公司治理结构不断完善,但并购后能否实现协同效应则是衡量并购成功与否的关键因素。本文首先以海尔智家并购GEA案例为切入点,在经营、财务及管理等三方协同维度的基础上构建全面化的协同效应评价体系,系统地评估并购双方协同“锲合度”;并基于熵理论深入研究海尔智家并购GEA协同效应“完成度”及其影响,依据分析结果得出结论,为我国家电行业的并购提供一定的参考与帮助。

Mergers and acquisitions between enterprises can promote to a certain extent the continuous optimization of both parties’resource allocation and the continuous improvement of the corporate governance structure,but whether the synergy effect can be achieved after the M&A is the key factor in measuring its success.Taking as the example Haier Zhijia’s acquisition of GEA,we construct a comprehensive synergy evaluation system based on operation,finance and management,and systematically evaluate the degree of synergy between the two parties.Then based on entropy theory we deeply study the completion of the synergy effect of Haier Zhijia's merging and acquiring GEA and its impact.The final conclusion from the analysis above may provide reference and help for relevant enterprises’M&A in my country’s home appliance industry.