| In recent years, transnational merger and acquisition has become a primary form of direct investment in the overseas market under the background of economic globalization, and is also the most important method for multinationals to implement their strategy of global expansion. With entry into WTO of our country as well as the deepening and speedup of its market-opening process, the cost and risk of multinationals entering China are decreasing gradually while a trend of increase in the field of direct investment, including transnational merger, by foreign capitals to China, is also witnessed. Private enterprises, which have been growing with the development of our market economy, have become an important force amongst the national economy. Taking the foreign capital merger into consideration, therefore, it has a realistic significance to discuss the way in which a private enterprise can adopt suitable countermeasures to scramble for benefits and avoid risks.Transnational merger involves a series of theories, while the countermeasures of private enterprises are related to actual practice of extensive significance. During the composing of this thesis, normative study is combined with positive study. A basic consideration is as the following: firstly, it analyzes and concludes that, as a trend, the scale of transnational merger by foreign capitals is expanding in our country. Secondly, combining analysis on advantages and disadvantages of private enterprises with opportunities and challenges faced by them, this article makes some suggestions regarding how a private enterprise selects countermeasures in accordance with its own market position. Finally, through dissection of several cases in which private-owned enterprises participated in foreign capital merger, countermeasures that they adopted are positively analyzed, and it is indicated that private enterprises mustpay attention to several things when participating in transnational merger.The thesis contains four chapters,Chapter 1 analyzes and discusses the development status of transnational merger by foreign capitals in China. The analysis is carried out in three layers including transnational merger theory, development status of transnational merger in the global market and that of in China. The so-called transnational merger means consolidation and purchase between enterprises from different countries. It is a prevailing form of direct investment by international corporations. Especially, it has become a primary way of multinationals' expansion. The theory of transnational merger contains two cores, of which one is merger theory, and another is the theory of direct overseas investment. These cores assign specific motives to transnational mergers. With our country's entering WTO, its door to the outside world will open more both in trades and capital market. Transnational merger in China by foreign capitals will show a trend of increase.Chapter 2 analyzes policies that private enterprises in our country should adopt in accordance with transnational mergers by foreign capitals. Private enterprises of our country, though great development has been achieved, are still now lack by competitive power. Their unbalanced growth is obvious particularly between regions as well as industries. Private enterprises occupying different positions in market competition will face different opportunities and challenges. They have to generate their own strategies according to their actual situation. These strategies include the following: cooperation strategy, one enterprise must actively look for and participate in foreign capital merger to gain mutual makeup; competition strategy, one enterprise must be united with other enterprises within the industry to jointly deal with competitions with foreign corporations; evasion strategy, to withdraw from the industry; defense strategy, one enterprise must concentrate its strength on a special link onthe value chain of its industry to find opportunity where existence can be maintained. Chapter 3 presents... |
PDF Full Text Request