Research In M&A Of Domestic Enterprise

The performances of domestic and oversea enterprise merger are not very optimistic. The research of the examples expresses that completed merger failure or merger with none effect accounts for 42%-56% total of merger activities. A lot of corporations not only can not achieve the expected win-win aim, but also do harm to the mutual interests.Negative coordinated effect will come into being. So, doing the job of the management of conformity for the merger of the enterprise well and producing the coordinated effect of the merger are worth to researching.The author makes a systemic research for the problem of coordinated effect and management of conformity in the course of enterprise merger. The essay emphases on the concept of merger, the research of theory, the coordinated effect and calculation,the management of conformity and the case of CNOOC in order that Chinese enterprises can achieve the coordinated effect by merger to supply with instruction of theory and method.The whole essay comprises of five parts as below.Chapter one is the summary, which include the background and meaning of choosing the topic, the way and content to research, related conclusion and creative views.Chapter two emphases on the introduction of concept relating to the merger of enterprise.Through the academic research and analysis of motivation for the merger of enterprise, the author demonstrates the reasons of success and failure relating to the merger of enterprise.Chapter three states the coordinated effect and calculation relating to the merger of enterprise. For the purpose of doing deep research of coordinated effect related to enterprise merger, this chapter put forwards the concept of generalized coordinated effect and calculated method of real option, which not only considers increment of cash flow brought by merger, but also takes into account of real option value brought by merger.Chapter four emphases on the management of conformity.The chapter demonstrates the importance of management of conformity for the enterprise of merger from the technical system of enterprise,system of management,culture of enterprise.Chapter five makes a systemic analysis for the management of conformity and merger case,which is vital to improve the successful ratio of overseas merger.