A Study On Risk Management Of Cross-border M&A Of Enterprises

With the acceleration of economic globalization,the competition among enterprises becomes more and more fierce.Therefore,cross-border m&a activities gradually emerge,and Chinese enterprises also take an active part in them.Although cross-border m&a is a good opportunity for China's market to go abroad,but the system of cross-border m&a of Chinese enterprises is not mature,and the actual experience is not enough.Besides,in 2017,the government issued a series of strict regulatory policies,leading to a high failure rate of cross-border m&a in China in recent years.Through the summary of failure cases,it is found that there are many risks in the aspects of environment,finance and integration.Therefore,Chinese enterprises are required to not only control the whole m&a process,but also pay attention to the possible risks in each m&a stage.So far,m&a risk management has attracted increasing attention of enterprises.After summarizing the relevant theoretical basis,this paper sues the method of combining cases and theories to further analyze the existing risks in different stages of HG group m&a from an overall perspective.This paper consists of five parts: the first part is the introduction.This paper mainly introduces the research background,research significance,literature review at home and abroad,research methods and innovation points.The second part is the introduction of relevant theories.The third part is the case introduction of HG group's acquisition of S company.The fourth part is focusing on the various risks and the risk management analysis of HG group's acquisition of S company.The fifth part is the conclusion and inspiration.In this paper,as the largest chemical enterprise in China,HG group has upgraded its industry,expanded its market size and stepped into the ranks of multinational companies after its acquisition of S company in 2016,so as to promote it to the world and improve its international competitiveness and participation.This paper,by analyzing the decision-making,implementation and integration process of HG group's m&a,summarizes the effective measures for risk management,hoping to provide some references for Chinese enterprises to conduct cross-border m&a in the future.