The Study Of Chinese Enterprises' Cross-border M&A

With the intensifies of transnational corporations' (TNCs) competition, Cross-border M & A is more than the new investment now, and has become a major method of foreign direct investment to global multinational companies, and playing an increasingly important role to the growth in international production. Not only in developed countries but also in developing countries, Cross-border M&A is becoming the major form of international direct investment. If China's economy should continue to the path of market economy, Chinese enterprises will go on the road of Cross-border M&A in the end. Therefore, As the subsequent of Cross-border M & A, understanding of the characteristics and development trends of Cross-border M & A, lessons forerunner (including some developing countries) experience, choosing the good and insisting on it, is meaningful for Chinese enterprises to participate in Cross-border M&A.This paper is divided into six parts: Chapter 1 of this paper is introduction, it explains the background and significance of the topics,and has give a brief comment to domestic and Cross-border M & A research, outlines the basic framework and major research methods of the paper. Chapter 2 of this paper explains the concept, structure and classification of Cross-border M&A; explains the relevant theories of the Cross-border M & A, on the basis of define Cross-border M & A,point out the theories of the M & A and FDI is the basic theories of the Cross-border M & A,at the same time, analysis the inadequate of the merger theory, take some theoretical achievements of foreign scholars in the study of Cross-border M & A which is further improvement for China's Cross-border M & A theories. The third chapter reviews the history of foreign enterprises, Cross-border M & A in foreign countries have gone through four important period of formation, initial development,became mature and globalization, through analysis of these four stages, we can know the successful experiences and the lessons of failure of Cross-border M & A, and we can find out inspiration for Chinese enterprises Cross-border M & A from four angles such as industry, form, injury scope and motivation. Chapter four reviews the course of development of Cross-border M & A of China's enterprises, and analysis the current situation of Cross-border M & A of China's enterprises from four angles such as scale,...