Tourism Enterprises Cross-border M&a Motivation Empirical Research

Since the21st century, with gradually shift and change in global industry,international travel industry has enjoyed rapid boom during this period and has becomeone of the most important filed in most countries of America and Europe. Merge andAcquisition regarded as the quickest way for companies’ expansion has become a hotresearch topic in transnational management of companies. Most large travel companies hadto adopt transnational M&A method to promote their competency in order to expandoverseas market, attract local customers, and integrate local travel industry chain due togeographical characterization. However, travel companies in china are still in thedevelopment stage with seldom experience in M&A.Based on multinational operation and M&A theories under the background above, thisarticle elaborates on motivation factors and effect elements for M&A of global travelcompanies, explores possibility of M&A under those effects and verifies the degree extentinfluence by those elements. The factors issued in the model are: international businessgrowth, international business contribution, M&A experience, main business growth, mainbusiness margin, company growth, net margin, asset turnover.So the model can be designed as below:M&A=K1~*international business growth+K2~*international business contribution+K3~*M&A experience+K4~*main business growth+K5~*main business margin+K6~*company growth+K7~*net margin+K8~*asset turnover+K...