Research On The Model Of Chinese Enterprises Overseas Merger And Acquisition

Enterprises Merger and Acquisition(M&A) derived from nineteenth century in west countries, which has one hundred history and had greater impact on the world economy. With the development of globalization, the worldwide has been united as one. No country could make successful economic development without any interaction with others. The Chinese government put forward the going out strategy to meet development trend of global mergers and acquisitions and this has laid a good foundation.In recent years, cross-border merger and acquisition to be an important way of international direct investment and is popular by Chinese enterprises. With the rapid development of China economy, more and more Chinese enterprises have been growing up and choose M&A as the way of entering into international markets and made great success. However, Compared with advanced countries, China's cross-border merger and acquisition is still at its infant stage, and lack of a comprehensive, profound awareness of the overseas acquisition. It is urgent, therefore, to study the M&A theories, analyze deeply the problems in the proeess of Chinese enterprises overseas M&A and find useful experience. Besides, the mode selection is directly determining odds.how to choose right mode of strategies is become highly worthwhile problems for us to make research.This article altogether is divided into five chapters. The first chapter is introduction that indicates the research background, the purpose, train of thought and research methods. The second part defines the essential of M&A and cross-broader M&A clearly, introduces related theories on foreign direct investment and cross-border M&A in order to form the basic of the following analysis. It has also reviewed the history of cross-broader M&A. The third part deseribes the history of Chinese enterprises overseas M&A, and deeply studies the reason of Chinese enterprises cross-broader M&A. It also presents situation and the development tendeney of cross-broader M&A. as well as the potential risk in the current market. In the forth chapter, it first summaries the model of cross-border M&A. By using the method of empirical analysis, it induces the various problems occurred in the proeess of Chinese enterprises overseas M&A on the basis of forth argumentation. In the fifth chapter, the author analyzes the current failure reasons and successful experiences of the overseas M&A of Chinese companies through the cases analyses of Geely Holiding Group and Chinalco Group. The last part draws some conclusions, which sums up the paper and puts forward main views. It also has very important application value to the Chinese companies.