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The Internationalized Road Of Chinese Enterprises: Cross-border Mergers And Acquisitions

Posted on:2006-07-01Degree:MasterType:Thesis
Country:ChinaCandidate:Y XiongFull Text:PDF
GTID:2166360152489895Subject:World economy
Abstract/Summary:PDF Full Text Request
Under the conditions which the pace of economic globalization is accelerating, and financial liberalization have been much progress ,the policy for foreign investment management is preferred to choice less restraint, the flow of international capitals tends to be more active, and have been much progress, including that the cross-border mergers and acquisitions which is one of ways of FDI around the world, gradually substitute green investment to be the dominant way of FDI.therefore,It is extraodinarily meaningful for the emerging china and Chinese enterprises to rightly judge the update conditions and the future trends of world economy, to make proper strategies and policies. Though in the overseas investments of Chinese enterprises, the way to adopt newly-built enterprises still occupies an leading position, cross-border M&A show a tendency to rise very fast. With the fast growth of China's economy, Chinese Government expecting and encouraging Chinese enterprises to utilize international and domestic markets, to realize the internationalization operation through " walking out ", and the increasing competitiveness in the fierce market competition of Chinese business circles, will impel Chinese enterprise to comply with tide of history, and cross-border M&A will play an important role in internationalization operation and the future development of China's economy . So, It is important realistic meaningful for us to carry on research in the present situation and trend of foreign transnational M&A of Chinese enterprises to put forward one's own countermeasure and strategy on problems and obstacles appearing. Chapter 1 have one total understanding to cross-border M&A in whole, content including a difination of transnational M&A and the type of transnational M&A(as a kind of extremely complicated transnational operation, transnational M&A can be classified according to different division standards. The next is to state transnational theory of M&A , At last, enterprise entry choice model of way of transnational investment is structured, which make us master to some extent some basic content of cross-border M&A, and make us be acquainted with the contents of the next sections as a hint and basis. Chapter 2, the situation of transnational M&A of our times is analyzed, and the characteristic and trend to worldwide transnational M&A have been summarized: for example, cross-border M&A becomes the main way of international direct investment,the scale of M&A is enormous ;The industry of transnational merger shifts from secondary industry to the tertiary industry especially. Because under the great environment of the economic globalization, behaviors of any national enterprise are not all isolated, but should incorporate it in the spring tide of the whole international economy to analyse , through carrying on research in the current situation and trend of enterprise's transnational M&A in the world at present, we can have understanding of general international environment that chines enterprises is carrying on cross-border M&A and compare to Chinese enterprise, which make us have deeper understanding to several contents of chapter of afterwards. Chapter 3 analyses the impact of cross-border M&A on investment country's enterprise and government briefly , to enterprise, enterprise expands border of large-scale production through the way of M&A,which helps enterprise's large-scale production more easy to realize. At the same time, enterprises can realize the improvement of the technology level through cross-border M&A too, and even promote investment country's whole technology level and technological progress by this way. Certainly , through cross-border M&A , enterprise can avoid various kinds of barriers abroad, and open up the new market by entering the market directly, this text thinks that it can promote the relevant transitions of government's function , issue of and relevant regulations. All these have realistic meanings to Chinese enterprises Chapter 4 analyses feasibility that chinese enterprise implement internationalizat...
Keywords/Search Tags:Cross-border M&A, internationalized operation, suggestions
PDF Full Text Request
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