An Analysis Of The Motivation And Performance Of Chinese Enterprises' Cross-border M&A

In recent years,the Chinese government has provided a favorable policy environment for Cross-border M&A activities of enterprises.Chinese enterprises take this opportunity to carry out Cross-border M&A activities and actively explore the international market.Firstly,this paper takes the research results of Cross-border M&A motivation and performance as the theoretical basis.Secondly,the author analyzes the common motivations of Crossborder M&A of Chinese enterprises such as access to natural resources,market power,core technology and brand effect in combination with the history and current situation of Crossborder M&A in China.Finally,the author analyzes the motivations and performance of Haier's acquisition of SANYO,Fisher&Paykel and GE Appliances by using case study method.Haier's acquisition of SANYO,Fisher&Paykel and GE Appliances is to obtain technology,brand and marketing network and other resources to further explore the international market,consolidate market position,and then through the integration to play a synergistic effect,and finally achieve the strategic layout of globalization.Due to various factors,M&A activity did not significantly improve Haier's financial performance,but improve Haier's market share overall and the level of technological development.In addition,M&A activities make Haier establish a sound brand system,which is conducive to Haier to accelerate the globalization of brand strategy.Finally,the successful acquisition of Haier also provides valuable experience for the internationalization of Chinese household electrical appliance enterprises.