Research On Structured Decision-making Of Transnational Mergers And Acquisitions Investment Of Chinese Enterprises

Transnational mergers and acquisitions are overall and strategic significance to the management behavior, are a significant measure on the basis of an analysis of the strategic business, under the environment of world economic integration, the integration of the international range of materials, technology, human resources, and market sales channel, quickly cut into new markets or obtain needed resources, achieve optimal allocation of global resources enterprise, enhance the market dominant position to implement company strategy. Transnational M&A fully reflect the feature of modern economic globalization, without borders, the characteristics of the collaboration and integration development. In the process of market competition unceasingly thoroughly, cross-border M&A is not only to the pursuit of economies of scale and market share, the more important is to make full use of the global industry division of labor system, focus on the future international market strategic layout, is actually two companies for their future development of the strategic alliance, is a higher levels of capital operation.Continuous development to enterprise, creating value-added continuously meet the demand of shareholder value, the need for objective assessment of the external environment and internal resources, scientific management and reasonable decision, to select internal accumulation or external M&A for the growth of this enterprise. Scientific and reasonable decision of mergers and acquisitions is the outcome of combined action of various factors, the essence of various factors is the attributes of capital, is the choice of the capital. The best efficiency, the most appropriate way to extract maximum interests is the essential attribute of capital. Position determines consciousness, capital decides to decision, when the separation of position and capital, will produce the problem of agency. In order to effectively reduce the agent risk, the transnational merger and acquisition investment decision-making influence factors for structural quantitative analysis, realize the nature and purpose of capital.This paper through on-the-spot investigation, combined with experts interview purpose determines the enterprise strategic planning, mergers and acquisitions, resources, risk, trade environment, cost, team and the integration of the eight M&A key factors about decision to success or failure, by orderly combination, reasonable quantitative, built a concise structured of cross-border mergers and acquisitions investment decision-making framework and clear decision analysis to determine the benchmark. Based on the study of Geely and Chinalco in M&A Volvo and Rio Tinto different performance of investment decisions, the results of decision analysis verify the different results of M&A. Hope to be able to provide some decision-making reference for planned or ongoing cross-border M&A of Chinese enterprise. For Chinese enterprises to go out, it provides a support of decision-making way and method to realize enterprise development strategy through the successful transnational M&A.