Chinese Enterprises To Develop Cross-border M & A Strategy Pattern And Countermeasure Research

It is a bright spot for global M&A that Chinese enterprises go abroad for Cross-Border Mergers and Acquisitions (CBM&A). It is very important for Chinese enterprises to internationalize themselves and become transnational corporation through CBM&A. This paper tries to set up a general theoretical model of CBM&A by reviewing, commenting and analyzing foreign direct investment (FDI) theory and M&A theory from western country. In addition, The strategic model and countermeasures on Chinese enterprises CBM&A are gotten by reviewing the CBM&A processes, analyzing its restrictive factors and drawing lessons from foreign enterprises' CBM&A.The whole paper is made up of 3 chapters.Chapter One looks back upon FDI theory and M&A theory from western country, and then tries to form a general theoretical model of CBM&A from three aspects of global environment, industrial structure and enterprise itself on the basis of those theories.Chapter Two reviews the CBM&A historical processes of Chinese enterprises, analyzes the characteristics of every process and further studies the restrictive factors from several angles.Chapter Three describes two points in detail. The first builds the main strategic mode of Chinese enterprises' CBM&A from the study on the property combination strategic mode, the core ability strategic mode and their relationships, and on the lessons of Canadian, American and Finland enterprises' CBM&A. The second focuses on the study on the strategy and countermeasures of Chinese enterprises' CBM&A from the analysis of global environment, enterprises' strategies and tactics, governmental support and agency organs.