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On The Strategic Choice Of Cross-border Mergers And Acquisitions Of Chinese Enterprises

Posted on:2004-05-29Degree:MasterType:Thesis
Country:ChinaCandidate:H H LiFull Text:PDF
GTID:2206360092485150Subject:International Trade
Abstract/Summary:PDF Full Text Request
A. Research Purpose and SignificanceThe economic global integrity is not only the trend of the world economic development, but also a kind of new international economic system. The business enterprise, which is the predominant power to produce the development of economic increases, preside the key function in economic global integrity. In recent years, more and more companies go abroad to develop foreign direct investment (FDI), and form a large quantity of multinational companies.For an opening-up China, the economic global integrity is undoubtedly an exterior environment we should pay attention to. Through more than 20 years of opening-up and economic development, the national strength of our country strengthens increasingly. In September 2002, Shi Guangsheng, the minister of the External Economic and Trade Cooperation, pointed out that Chinese total economic quantity and foreign trade quantity have already ranked the sixth of world. Along with economy's fast and healthy development, China has already had the ability to invest abroad. In the report of "the 16th Chinese Communist Party Congress ", Chairman Jiang puts forward, " Putting 'Going-out' strategy into practice is an important step in the new stage of opening-up";" We should encourage and support every kind of business enterprises having the comparative advantage to invest abroad, in order to arouse the export of merchandise and service, to build some transnational corporations that have real strength and famous brand".Facing with the international and local environment full of opportunities and challenges, and combining the Chinese enterprises' practice, it is of practical significance to put" going-out" strategy into practice. Though out the study of obstacle the Chinese enterprise faced and the strategy we should adopt, this thesis provides a viable way for Chinese enterprise togo out sooner and better.B. Research frame and main contentsThe thesis includes four chapters. According to textual research way, its frame construction is as follows:Chapter One is the summary of business enterprise cross-border Mergers & Acquisitions (M&A). It introduces the related concept of the enterprise M&A and Cross-Border M&A, explains the latter's difference from general M&A. Then, it analyzes the reason why Cross-Border M&A can exceed " Greenland Investment" to become a main way in international direct investment. Afterward, from FDI theories, which are established on the microcosmic basis of business enterprise, the thesis sums up the motive to develop Cross-Border M&A, thereby provides a basic academic frame for the following analyses of this thesis. The 4th section of the chapter specializes a series of new characteristics in global "5th Cross-Border M&A Wave", and summarizes the development of global Cross-Border M&A.Chapter Two focuses the Chinese enterprise's cross-border M&A. It looks back the Cross-Border M&A history of our country's enterprise, points out that because main current FDI theories primarily focus on developed countries especially the multinational companies of the United States, they firmly have limitation to explain the developing countries' Cross-Border M&A. And then, the thesis derivates the multinational companies' theories of developing country, sums up the key function of technique in Cross-Border M&A activity of developing country's multinational companies, and indicates what the Chinese enterprise can learn from these theories. In succession, the thesis analyzed the political and economic basis of our business enterprises to develop Cross-border Mergers & Acquisitions in order to draw a conclusion that expanding the Cross-border M&A is a necessary and advisable approach to actualize foreign development. In the last section of this chapter, some reasons thatblock Chinese enterprises to develop Cross-border M&A quickly are enumerated to offer a precondition for the 4th chapter's analysis.Chapter Three illustrates Chinese enterprise's strategy choice to develop cross-border M&A, discusses the q...
Keywords/Search Tags:Chinese Enterprise, Cross-border Mergers & Acquisitions (M&A), the " Going-Out" Strategy, Strategy Choice
PDF Full Text Request
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