M & A Process Of Cultural Risk Analysis And Measure Study

Merger and acquisition is an important way for an enterprise to enlarge its operation scale and increase its competitive strength. With the development of economic globalization and market globalization, the extent of competition of the market is becoming more and more drastic. The merger and acquisition also become more and more fierce. But the surges of merging activities have seen a high rate of failure. When researchers analyze the decisive element of its failure, they find the main reason is that the corporate management neglect cultural differences and don't deal with cultural conflict well. So, in the period of merger and acquisition being in vogue and in order to eliminate its failure, study on cultural risk in merger and acquisition is very meaningful.The thesis firstly introduces the basic theory of corporate culture, merger and acquisition and risk. Then deeply analyzes cultural risk in merger and acquisition. The thesis gives the concept of cultural risk in merger and acquisition, analyzes the original factors, the features and the expressional forms of cultural risk in merger and acquisition. And points out some aspects in which cultural risk affects on merger and acquisition. Additionally, four-phase theory of merger and acquisition base on cultural risk is put forward and the transformation pattern of cultural risk in these four phases is profiled. On the basis of analysis, the thesis probes a wayto evaluate cultural risk in merger and acquisition. Uses analytic hierarchy process and fuzzy comprehensive process set up a measurement model of cultural risk in merger and acquisition. Finally, the author makes a case analysis on LM's cultural risk in merger and acquisition. Makes out its situation of cultural risk in merger and acquisition by evaluation and puts forward tactical suggestions on controlling cultural risk.