Study On Integrations After Transnational M&A Of Haier Group

In the recent two years,more and more Chinese enterprises use the transnational merges and acquisitions(M&As)as the way to implement internationalization.However,there are also some problems under the popular transnational M&As.Among these problems,integration failures after M&As seriously restrict the overseas investment of Chinese enterprises.The household electrical appliance industry of China has implemented leaping development from OEM to brand building through continuous M&As and resource integrations,and thus forms a completely new business model.Therefore,this paper does a research on how the household electrical appliance enterprises of China should perform integrations after transnational M&As.This paper uses both the literature research method and the case research method and performs analysis in the perspective of integrations after transnational M&As.Firstly,this paper summarizes the literatures about domestic and foreign M&A integration models,and this paper makes full use of and expands the current theoretical models during case analysis.Secondly,this paper summarizes the M&A history of China in the recent ten years,analyzes the current development status of the China household electronical appliance industry,and researches why China has performed large-scaled M&As in the household electrical appliance industry.In the case analysis part of this paper,the transnational M&As of Haier Group are selected as the analysis object.Therefore,this paper does not use the single argument mode in the case analysis.This paper is a vertical comparison and analysis for the three M&As and integrations of one object.Then,in the aspects of growth ability,profitability,operation ability,and debt paying ability,this paper analyzes the M&A and integration performance by selecting different financial ratios,using principal component analysis method to explore the integration after the merger event has effect on corporate performance.Finally,this paper extends the integration model of Haier Group,and puts forward the general pattern of integration after transnational M&As in China.