The Research Of The Corporate Of Merger And Acquisition Of Enterprise By Foreign Investor

Merger and acquisition of foreign investor has been a central way for foreign company entering into Chinese market. Our governance offer loose political environment for foreign investor development. With the economic development, it's great potential to attract foreign investor by the way of merger and acquisition. M&A of foreign capital has positive theoretical and realistic meaning for the improvement of our corporate .The text has made brief review and general comment concerning theory of M&A of foreign investor and corporate governance. It explains the concept of M&A of foreign investor and business governance. Then the text analyses the motive of M&A of foreign investor, including efficiency theory,transaction charge,strategy motive. Then the study analyzes the characteristic of the enterprise of M&A of foreign investor. With the increasing scale of M&A of foreign investor, they has increasing demand of control right. And more and more fields have been involved in the merger activities. The aim of M&A is the enterprise with high economic efficiency and strong superiority and higher resource value. Then the text researches the mode of M&A. Meanwhile, the text studies the current state of corporate governance of mergered company. At last, the text states the restructure of corporate governance of M&A of foreign investor.The conclusion of the text is that foreign investor improve the internal administrative structure, strengthen the control for direct of board, and the supervision of supervised board. And restrict manager's self-advantaged way which is produced by the principal-agent problem, the way has efficient incentive inhibit for manager. the method of M&A of foreign investor also has the effect on the improvement of external governance. the reform of control right is a good example.In a word, M&A of foreign investor has significance on the corporate governance.