Comparison Between China And Occident Enterprises' Cross-border Merger And Acquisition

From 21st century on, in order to have market share and advanced technology, Chinese enterprises join the international market quickly with cross-border M&A, however, many enterprises suffered failure due to lack of experience. In contrast, take advantage of advanced technology, good management and strong financial, Occident enterprises' cross-border always success, especially in our country' M&A which have threaten our industry safe. Therefore, researching on Chinese and Occident enterprises' cross-border M&A can provide reference for our country enterprises' cross-border M&A successfully.With the integration of the world economy, in order to strengthen the market position, increase efficiency, optimize the allocation of resources, cross-border M&A is indispensable tool to promote enterprises' development. In order to make our country enterprises' cross-border M&A smoothly, researching on Chinese and Occident enterprises' cross-border M&A is becoming a imperative project.By analyzing the home and abroad current situation about cross-border M&A, this thesis found that it is lack of systemic research about China and Occident cross-border M&A comparison studies and gave opinions about the necessary of researching on China and Occident cross-border M&A comprehensively. Based on the theory of cross-border M&A, the cross-border M&A and economies of scale, and the method of comparative study, we can get the following five-point conclusions researching on Chinese and Occident cross-border M&A legal environment, economic security and national economic environment, the objectives of corporate M&A, the motivation M&A, the industry of M&A.Firstly, Occident has established integrated system of laws and regulations to protect national security and the interest of enterprises. China has a relaxed cross-border M&A environment, because it has inadequate legal system and lack of specific details for the operation of the law. Secondly, Occident enterprises chose the leading industry, then entered the market of the host country quickly, but Chinese enterprises mainly chose the small and medium enterprises.Thirdly, the thesis researches on the cross-border M&A motivation of China and Occident with the method of combining qualitative and quantitative. The motivation of our enterprises was technology, raw materials, talent-based and so on, while the motivation of Occident enterprises was mainly market share.Fourthly, Occident enterprises chose the tertiary-industry as the major M&A industry. On the contrary, Chinese enterprises mainly chose secondary industry, especially the manufacturing industry.Fifthly, according to the difference of Occident and China enterprises' cross-border M&A, the thesis found inspiration for our country enterprises from the Occident enterprises' cross-border M&A. Government and enterprises gave the suggestion. At last, the thesis analyzed the situation of the financial crisis with the utility theory.