Study On The Factors Affecting The Performance Of Overseas M&A In Resource-Based Enterprises

With the full liberalization and rapid development of China's economy,the strength of China's resource-based enterprises has been significantly enhanced in recent years,but its resource consumption is huge,resulting in the decline of non-renewable resources.Due to the impact of economic globalization,The price dropped significantly.Therefore,more and more Chinese resource-based enterprises through international mergers and acquisitions way to international energy,mineral resources,redistribution,thereby enhancing the global competitiveness,among the top of the global industrial value chain,the current stage of overseas mergers and acquisitions there is a great Opportunities and challenges.Therefore,from the actual situation of domestic resource-based enterprises,the analysis of overseas M&A performance theory,in-depth study of the impact of M&A performance factors,not only to enrich the Chinese resource-based overseas mergers and acquisitions performance theory research results,but also help the government to develop appropriate Policies and enterprises to develop the implementation of the relevant overseas M&A strategy to promote the development of overseas M&A market to promote China's economic restructuring and upgrading.Based on the domestic and foreign references related to M&A performance,this paper has a more comprehensive understanding of the theory of M&A performance.Based on this,the author analyzes the motivations of M&A by analyzing the theoretical basis of overseas M&A performance.Factor,which laid the foundation for the empirical hypothesis,but also for the final government and the recommendations of the enterprise to provide theoretical support.Second,the results of the sample company's performance score,as a year after the merger of the sample company's comprehensive score than the previous year,the merger has a greater change,so the selection of the year after the merger of the sample company's comprehensive score as the explanatory variables.At the same time,the scale of the acquisition,the degree of control of the target company and the proportion of the largest shareholder holdings are taken as independent variables.The influence of the performance is studied in three aspects by factor analysis and multiple regression analysis.Set up.Finally,according to the results of empirical research from the macro and micro two levels,put forward targeted policy recommendations.