Study On Strategic Choice Of Merger And Acquisition Or Alliance In International Container's Shipping Firms

Today with the accelerated development of the economics globalization and the tendency of informationization in the world, the industry of international container speeds up to focus. What the shipping companies face is no longer the relatively narrow and small native market, but is a worldwide market. Many companies are seeking the higher and deeper development in the vehement competition in order to enhance the international competitive power of their companies. They obtain the survival and the development in the competition in order that they can hold more shares in the market of the international container. It is not difficult to see that the shipping development is the same with economic development which has the periodic movement from the history of shipping. How to maintain the profit in the shipping market periodic return is an important reason that affects the international shipping firms to seek the expansion at present.This paper first elaborates the game theory, the transaction cost theory, the resource base theory as a foundation. It introduces several kind of balanced of game theory, the boundary elaboration of the transaction cost theory as well as it analyses the value resources of companies by the resource base theory. It makes a foundation for the follow models.According to the basic definition and the agent of the merger and acquisition and the alliance of international container shipping enterprises, compared to two kinds of strategies which international container shipping enterprises carry on from the different aspect. Then it makes a conclusion that they are the different from the goal and key, the management and operation as well as the extent of government regulation.Next the paper analyzes briefly the present situation of international container's market. Then it looks back the history of merger and acquisition and the alliance in international container's market. It is the time that the international container's companies take part in merger and acquisition or the alliance.The foundation which this paper analyzes the suitable boundary of the merger and acquisition and the alliance is the transaction cost theory and the resource base theory. The innovation of this paper analyzes the important target which affects the merger and acquisition and the alliance of enterprise with these two theories. It includes the environment characteristic, transaction characteristic, enterprises characteristic and so on. It establishes the supposition condition according to these influence factors and the foundation for the behind demonstrative analysis. It also has carried on the dynamic analysis on the merger and acquisition and the alliance. In actually, the alliance and the merger and acquisition interweaves in the same place. The enterprise possibly carries on the strategy of the merger and acquisition through the alliance. And container's enterprise still may participate in the alliance after the merger and acquisition. The key is when the international container shipping enterprise chooses first the alliance then the merger and acquisition, and when chooses the merger and acquisition then in the participation alliance. Has it any superiority?Finally the paper carries on the positive analysis by Maersk Sealand around. It analyses the condition of Maersk Sealand on that time by the static model and the dynamic model. Then it obtains the conclusion of this paper after its merger and acquisition successful conformity.In conclusion, the container's shipping enterprise of China should profit from the domestic and foreign experiences in the developing process. In the short-term they should participate in the shipping alliance positively and try their best to strive for the developing space when they are not strong. In the long-term, they should agglomerate the strength to prepare merger and acquisition. This paper appeals government to participate at the right moment and asks the academic help the enterprises, which can reduce the time which the container shipping enterprise of China grows.