Management Review ›› 2021, Vol. 33 ›› Issue (8): 256-262.

• Organization and Strategic Management • Previous Articles     Next Articles

Customer Relationship Management, Internal Control and Merger and Acquisition Performance——Analysis of Multivariate Linear Regression Model

Chen Xiaojun1, Ji Fuxing2   

  1. 1. School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100049;
    2. School of Economics, University of Chinese Academy of Social Sciences, Beijing 102488
  • Received:2019-06-14 Online:2021-08-28 Published:2021-09-04

Abstract: Corporate merger and acquisition (M&A) is a complicated process, which has a far-reaching impact on the current and future performance of both acquirers and acquirees. The traditional methods of M&A performance evaluation are mainly from the financial perspective, which has significant limitations. From the perspective of value-driven capital, there are complex and multiple factors influencing the performance of M&A, among which customer value and control ability are crucial to the realization of M&A value. Therefore, this paper constructs evaluation indicators from the dimensions of enterprise customer relationship management and internal control, effectively measures the potential variables, and studies the impact of both on enterprise M&A performance from the perspective of empirical research. The results show that the multi-dimensional M&A performance evaluation system designed in this paper can better and more comprehensively measure the M&A performance. Internal control and customer relationship management are significantly positively correlated with the M&A performance, and customer relationship management has a greater impact on M&A performance. Customer relationship management is the foundation of business performance of enterprises, and internal control is a systematic guarantee project. It is necessary to strengthen the management of customers, internal control, finance and other aspects at the same time, in order to give better play to the synergies and economies of scale.

Key words: merger and acquisition, customer relationship management, internal control, performance evaluation