The Analysis Of Transnational Merger And Acquisition (M&A) And The Transformation And Upgrading Of China's Textile And Garment Enterprise

In recent years,more and more scholars and managers started to pay attention to the influence of multinational Merger and Acquisition for transformation and upgrading of China's textile and garment enterprises.In the background of China's textile and garment enterprises facing new international positioning and creating new advantages,it's extremely important to explore the relation of China's textile and garment enterprises' cross-border M&A and transformation and upgrading by using theories of cross-border M&A and the path of transformation and upgrading and so on.The research has shown that cross-border M&A can get resources that enterprises' transformation and upgrading will need.Horizontal cross-border M&A helps to transformation and upgrading of textile and garment enterprises to obtain the necessary resources,such as design,brand,channel,technology and so on.But vertical cross-border M&A and Conglomerate cross-border M&A have no great significance with necessary resources for transformation and upgrading.Besides,the existing resources and different resources that cross-border M&A gets lead to different paths of enterprises' transformation and upgrading after corresponding integrations.There are three paths for China's textile and garment enterprises to achieve the goal of transformation and upgrading,which are product upgrading,process upgrading and function upgrading.Firstly,this article describes theories of the transformation and upgrading and transnational M&A,gets the definition of cross-border M&A and its classification,and makes a distinction between enterprises' transformation and upgrading and industries' transformation and upgrading.The paper also points out the path of enterprises' transformation and upgrading.At the same time,it leads into the definition,paths and evaluating indicators of China's textile and garment enterprises' transformation and upgrading.Secondly,it studies the mechanism that cross-border mergers and acquisitions affect the transformation and upgrading by describing the relation of cross-border M&A and transformation and upgrading.Thirdly,it analyzes characteristics of China's textile and garment enterprises' cross-border M&A and features of China's textile and garment enterprises seeking for cross-border M&A.At the same time,this paper analyzes why some companies fail to achieve the transformation and upgrading by the method.Fourthly,it also establishes targeted strategies of achieving transformation and upgrading for China' textile enterprises based on current situation and mechanism.Then,combining with the case of Ruyi Group merging with Renown,it proves the influence of transnational M&A for transformation and upgrading.Finally,it draws some conclusions and suggestions according to the above analysis.This article proves emphatically that different types of cross-border M&A come into being different influences for paths and results of transformation and upgrading on the basis of the mechanism that cross-border M&A affects transformation and upgrading and existing problems of transformation and upgrading.It also formulates corresponding strategies of transformation and upgrading through cross-border M&A.This article expects some reference for transformation and upgrading of China's textile clothing enterprise.What's more,the analysis will have a positive impact of transformation and upgrading of textile and garment enterprises in China.It's beneficial for Chinese clothing enterprises to go into the international market.