Research On Risk Management Of Overseas M&A Resource-based Enterprises

The 21st century is an era of economic globalization.More and mor e powerful enterprises are no longer satisfied with the market of a co untry,and they are beginning to invest in overseas markets.A series of conditions such as the rise of China’ s economy,the promotion of in ternational status,accession to the WTO,and the European and Anerica n financial crisis since 2008 have provided many Chinese companies wit h opportunities for overseas investment.The number of Chinese corapani es participating in overseas investment during the decade of 2008-2018 and The scale has been continuously broken,and the overall trend is rising.Among them,overseas mergers and acquisitions have become an i mportant means for Chinese companies to enter overseas markets and exp and their scale.At the same time,China’s rapid economic development has brought about a rapid increase in demand for energy and minerals.In 2009,China’s energy consumption exceeded the United States and bee ame the world’s largest energy consumer.Due to the scarcity and non-r enewability of resources,many resource-based enterprises in China hav e insufficient stocks.Therefore,many resource-based enterprises have begun to look to the international market and hope to acquire oversea s resources through mergers and acquisitions.According to Wind statis tics,in the overseas M&A transactions in China in 2009-2018,the numb er of overseas M&A and the amount of resource-based enterprises accoun ted for 28%and 72%of the number and scale of overseas M&A respective ly.Resource-based enterprises became China’ s overseas M&A activities.The main force,but the history of overseas mergers and acquisitions of Chinese enterprises is short,and the experience of mergers and acq uisitions is relatively lacking.In particular,overseas mergers and a cquisitions have greater differences in politics,culture and manageme nt than domestic mergers and acquisitions,and the risks are also grea ter.At the enterprise level,China’ s overseas mergers and acquisitio ns Lack of mature risk management guidance and experience,and lack of effective protection mechanisms at the government level,resulting in a lower success rate of mergers and acquisitions,or more successful mergers and acquisitions,but due to poor integration and the inabilit y to play the M&A effect,the existence of these problems It is diffic ult for companies after mergers and acquisitions to achieve high effic iency.In view of the importance of resource-based enterprises in over seas mergers and acquisitions and the importance of resource protectio n to national economy and security,this paper studies the issue of ri sk management of overseas M&A resource-based enterprises,which is of research value.In recent years,China,s corporate mergers and acquisi tions have developed rapidly.Many scholars have carried out more deta iled research on mergers and acquisitions,involving many levels.Howe ver,there are not many researches on the risk management of overseas mergers and acquisitions,especially for resource-based enterprises.T he research results of this paper are Helps to supplement and enrich e xisting research.This paper uses the combination of literature resear ch and case analysis.Firstly,it sorts out the existing overseas M&A research results,expounds the risk causes,classification and managem ent theory of overseas mergers and acquisitions,and sorts out the the oretical basis used in this paper.The typical case of CNOOC’s acquisi tion of Nixon is based on the logic of risk identification,risk asses sment and risk prevention in the whole process of merger and acquisiti on.It is found that CNOOC has some effective prevention and controli n the risk prevention and integration of overseas mergers and acquisit ions.The practice describes some of the risk prevention and control m easures taken by CNOOC in M&A activities,summarizes its effective mea ns in risk management,and explores some of its existing problems,and makes recommendations and inspirations based on this,for other resou rce-based enterprises in China in the future.Provide reference for ov erseas M&A activities.