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On The Cross-border Mergers & Acquisitions Based On Three Layers

Posted on:2003-09-07Degree:MasterType:Thesis
Country:ChinaCandidate:P LiuFull Text:PDF
GTID:2156360092460101Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
With the speedy development of the Integration of world economy,this planet we live on is turning "smaller and smaller",and a "Non-border Economy" is coming into being. Such a world economic environment provides a more spacious space for the survival and development of transnational corporations (TNCs) on the one hand,and entails more intensive competitive pressure on them on the other hand. Just with this background,a new wave of cross-border Mergers & Acquisitions (CBMAs) has been forming and developing,and furthermore,becoming an evident characteristic of the current world economy. Then,what's the very motive behind this ware? And why,with the two kind of Foreign Direct Investment (FDI)-CBMAs and Greenfield Investment (GFI) -more and more TNCs are turning to prefer the former to the later? These are the very subjects discussed and researched in this paper.The main idea of this paper is presented according to the natural logic of the formation and development of CBMAs. First,the formation,development and the latest onions of the motives of CBMAs is made accompanied with some comments on their adaptability & limitation by the author. Considering the complexity of the theoretical explanation of CBMAs,after studying the existing theories and common analysis,the another applies the principles of Industrial Economics and world Economics synthetically and presents a Factor-level Analysis of CBMA.s Three levels-micro,middle and macro-are focused on and the factors on each level are discussed elaborately and respectively as the man part of this paper. And a primary conclusion is drawn:the new ware of CBMAs is determined by triple factors together and it is a strategicone of mergers & Acquisitions facing world markets.
Keywords/Search Tags:Cross-border Mergers & Acquisitions, motive, strategy, world economy, Foreign Direct Investment
PDF Full Text Request
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