Research On The Function Of Cross-Border Merger And Acquisition In Promote The Competitive Advantage Of Enterprise

Presently, the economic globalization and the financial liberalization develop vigorously. A new round of cross-border merger and acquisition (M&A) tide has started in the worldwide. As an important form of FDI, it impacts the world economics significantly. Currently speaking, this round of cross-border M&A is mainly take the developed country's Multinational Corporations as the leadership. It starts from its global strategy, seeks to construct a higher level of the competitive power and obtain the long-time competitive advantage. Along with strengthen of the economic power, more and more developing country's enterprises also join the cross-border M&A, the Chinese enterprises have not be exceptional. They go out the country to develop the overseas market. But comparatively, the majority of Chinese enterprise's cross-border M&A was still at the initial stage. It has not risen to the strategic altitude of promote the competitive advantage. Therefore, the research on the function of cross-border M&A in promote the competitive advantage has the important theoretical value and practical significance.This thesis takes the theory of cross-border M&A and competitive advantage as the foundation, analyzes the present situation and characteristic of domestic and foreign enterprise's cross-border M&A, points out the deficiency that exit in Chinese enterprises. Then expound the form and origin of competitive advantage and the way how to promote it. Subsequently, analyze the competitive advantage's promotion mode, the transmission mechanism and influencing factors in cross-border M&A, clear about the function of cross-border M&A in promote the competitive advantage. Next, in the foundation of the front theoretical analysis, combine with the case of Lenovo mergered IBM PC, use the quantitative and qualitative analysis, conduct the empirical study to the cross-border M&A promote enterprise's competitive advantage. Finally combine with the actual situation of Chinese enterprise's cross-border M&A, point out the enlightenments of Lenovo mergered IBM PC to Chinese enterprises.