Swot Analysis And Pattern Of Cross-border Mergers And Acquisitions Of Chinese Enterprises Study

Enterprise investment is the bound requirements for its survival and development, and CBM&As (Cross-border Merger & Acquisitions) are the inevitable trend for enterprise's seeking capital expansion when facing changeable international situations. With the rapid development of world economy globalization since 1990s, TNCs' CBM&As has become more active. CBM&As for Chinese enterprises are still in its infant stage in spite of china's rapid development of economy and its substantive progress in CBM&As. How to recognize Chinese enterprise's strength&weakness and its opportunities&threats correctly during CBM&As? How to make decision on mode choosing? How to change our comparative advantages into core competence so as to become a genuine world-class enterprise? The answers to these questions are not formed into one system and research on Chinese enterprise's CBM&As is scarce in theoretical fields, so the research in this paper is expected to provide reference and guidance to Chinese companies.This paper adopts lots of data analysis and comparative analysis. The combination of qualitative analysis&quantitative analysis and SWOT analysis are also used to study above problems. First from the connotation of CBM&As, the article discusses its characteristics & trends, and makes comparison between CBM&As and Greenfield investment in terms of Q theory. Then after international comparison between Chinese and foreign company's CBM&As, the paper presents systemic SWOT analysis on Chinese enterprise's CBM&As, and then the author belives that china's preponderant enterprises have initially possessed comparative advantanges, which are the grounds to launch overseas M&A., but Chinese enterprise's CBM&As does not go smoothly and naturally because of many disadvantages and threats. At last, with refernce to Chinese enterprise's mode choosing when starting CBM&As, the article builds TOWS matrix and core competence stratagem mode on the basis of SWOT analysis. The enterprise should usually adopt WO, ST or WT stratagem firstly so as to reach the status of using SO stratagem. Only the CBM&As rooting in core competence cultivating can gain success.