The Analyses Of The Foreign Capital's M&A Action Towards The State-owned Enterprises And Its Relative Policy Suggestion

This dissertation focuses on the tactical investments of the foreign capitals' merging or acquiring the state-owned enterprises and on the policies of the government to control the investments, combining historic, logic, canonical and positive analysis. Because the foreign capitals are in Chinese rail-turning, new and developing M&A market, under the incomplete legal supervision system, and under the circumstance of the deepening of the state-owned enterprises' reformation, their M&A incentives, their M&A target, their M&A pattern, their M&A pricing, their M&A post-merger integration (PMI), their M&A effect evaluation are all in their very special track and work on the national economy. The policy to control the foreign M&A is dropping behind the need for developing the economy in China. The government should make great efforts on the reformation of the administration system of the state capitals, on the construct of the frame of supervision, on the consummating of the M&A market. The government should apply these three visible hands to remedy the deficiency of the market's invisible hands, avail and control the foreign M&A capital, achieve the state capital and the foreign capital's both wins in this game, and ultimately boost the national economy's continuable and fast development.The innovations in this dissertation are the establishments of three models about M&A investment. I hope the thoughts behind the models will enlighten the theorists somewhat.