资源编排视角下的圆通跨境并购效果研究

Research on the Effect of YTO’s Cross-border Mergers and Acquisitions from the Perspective of Resource Arrangement

伴随着电子商务的兴起,快递行业迎来了高速发展时期,但是我国的快递行业也面临着国际化水平低的问题。圆通速递作为我国快递第一股,首次进行了快递业跨境并购活动,跨境并购了先达国际。文章从圆通速递跨境并购先达国际这一事件出发,基于资源编排视角对并购事件创造的价值进行了分析。同时运用事件研究法和财务指标法对此次并购事件绩效进行全方面分析,得出结论:此次并购事件整体提升了圆通速递的短期绩效,但是对长期市场绩效并没有很明显的正向影响,给予物流行业企业跨境并购相关建议和借鉴意义。

With the rise of e-commerce,the express industry has ushered in a period of rapid development,but my country’s express industry is also facing the problem of low level of internationalization.YTO Express,as the first express company in my country,conducted cross-border M&A activities in the express industry for the first time,and cross-border M&A with Xianda International.Starting from the event of YTO Express’s cross-border merger and acquisition of Xianda International,this paper analyzes the value created by the merger and acquisition event from the perspective of resource arrangement.At the same time,the event research method and the financial index method are used to analyze the performance of the merger event in all aspects,and it is concluded that the merger event has improved the short-term performance of YTO Express as a whole,but has no obvious positive impact on the long-term market performance,to give relevant suggestions and reference significance for cross-border mergers and acquisitions of enterprises in the logistics industry.