Integrin: A Study Of The Integration Strategy Of Cross-border M&A

In cross-border M&A, “merger” is a trading behavior. Based on integration strategy, “incorporation” is an integrated process and a state of the two sides about their assets and business activities. Integration is a key part in the process for companies transforming from merger to integration, which also enhances the competitive advantage. The key of merger and integration is to realize the strategic integration of the two sides. Due to the fact that integration strategy and its mode of operation is based on the systematicness, comprehensiveness and globality of resources, therefore, we extract the intrinsic gene of integration strategy-integrin. As a binding medium in the process of integration of resources, integrin plays a function of absorbing and conducting. It is a general or basic element that results in post-merger integration of both enterprises. Post-merger integration process is seen as a multi-factor, multi-level collaborative working process. In this process, the implementation of the integration strategy is dynamic and periodic. With the help of the depth and speed of integration, post-merger-integration is a process that realizes the dynamic equilibrium of integrin. By the empirical study of integrin, the author attempts to find out the relationship between the depth of integration and the bonding medium function of integrin and the relationship between the depth of integration and the integration function of integrin. The results showed that the depth of integration is positively correlated with the bonding function of integrin and the integration function of integrin. Meanwhile, since “enterprise strategy- technological capacity- corporate culture” analysis is the key to the location of resources and ordering of integration in the implementation of integration strategy, therefore, we should deconstruct the mechanism of integrin so as to have a comprehensive deconstruction of how the components of integrin work together: by oriented mechanism and enhancing the competitiveness of mechanisms, enterprise strategy plays the fundamental role of integrin; by technical mechanisms and technical efficiency mechanisms, technological capability plays a adjustable role of integrin; by cultural trust and learning mechanism, corporate culture plays the stable role of integrin. Finally, on the basis of theoretical analysis and empirical analysis of integrin, a conclusion can be drawn that the key point of cross-border M&A and the implementation of integration strategy is the exploration and nurture of integrin. According to this conclusion, considering the actual situation of companies, based on the angle of integrin, combined with the depth of integration and the speed of integration and other strategic choices about some practical problems, the thesis presents the strategic guidelines for cross-border M&A integration of our businesses.