Analysis On The Influence Of Transaction Factors Of Transnational M&A On Enterprise's Performance

In the context of global economic integration,cross-border mergers and acquisitions has become the main means of technology transfer and economic expansion.In the 30 years of reform and opening up process,China's contribution to the world's economic growth has reached 40%,becoming the world's second largest economy.China has experienced three times the wave of mergers and acquisitions,every wave to promote China's sustained and healthy economic growth,but in recent years the number and scale of cross-border mergers and acquisitions once again reached a high tide.At present,a large number of cyclical enterprises overcapacity,the economy has begun to appear signs of decline,foreign cross-border mergers and acquisitions is a better way to solve these problems.Cross-border mergers and acquisitions can obtain advanced technology and ideas,expand the market size,avoid trade barriers,access to resources and qualification licenses and other benefits,thereby enhancing the comprehensive competitiveness of enterprises.At present in academia,cross-border mergers and acquisitions can improve business performance debate is also large,because standing in different angles,using different evaluation indicators and methods,may produce different results.As the financial situation can be more comprehensive and intuitive to reflect the business situation,so this article from the perspective of corporate finance,through the factor analysis of empirical methods,scientific analysis of the cross-border mergers and acquisitions after the performance changes and reasons.At the same time,through the summary and empirical analysis of the factors of cross-border M&A transaction,the paper analyzes its impact on enterprise performance.In this paper,116 cases of cross-border mergers and acquisitions of listed companies,through the factor analysis of empirical methods,analysis of cross-border mergers and acquisitions listed companies after the performance is a first decline,the gradual improvement of the process.And found that the cross-border M&A enterprises to improve the number and performance improvement between the total deviation,the success of corporate mergers and acquisitions is far greater than the loss caused by the loss,which is one of the driving force for cross-border mergers and acquisitions.In this paper,the transnational mergers and acquisitions factors that affect the performance of enterprises are divided into macro factors,enterprise characteristic factors and transaction factors.Macro factors,corporate characteristics are often short-term business factors are not controllable.The transaction factor is the controllable factors before the M&A,including cash flow coverage,transaction scale,transaction mode and so on.Identify uncontrollable factors to reduce the risk of M&A failure,the correct choice of controllable factors to improve the success rate of cross-border mergers and acquisitions.Finally,according to the results of the study,cross-border mergers and acquisitions for enterprises to provide reference.