Research On Cultural Integration In Cross-border Mergers And Acquisitions Of Enterprises

Cross-border M&A has become an important form for enterprises to achieve internationalization and optimal allocation of resources.Chinese enterprises should not only seek development at home,but also move towards internationalization.In this process,due to the differences between national culture and corporate culture,cross-cultural conflicts are likely to occur and affect the business activities of enterprises.The rapid development of overseas M&A has become an important symbol for Chinese enterprises to enter the world stage.Under the guidance of the national "One Belt And One Road" policy,it is particularly urgent to solve the problem of cultural conflicts arising in the process of state-owned enterprises' cross-border mergers and acquisitions.However,most of the current research results are focused on developed countries' mergers and acquisitions of developing countries,and the case studies of Chinese domestic enterprises' mergers and acquisitions of Europe and America are not in-depth enough.Transnational cultural differences generally have become national,corporate and individual levels.It is necessary to carry out detailed analysis and research on the national culture and corporate culture of the acquirer and the merged party,find out their cultural similarities and differences,and then adopt reasonable and scientific integration mode and countermeasures to solve cultural conflicts.This paper adopts the methods of literature research,interview and case analysis to study the cultural integration of transnational mergers and acquisitions: Firstly,it analyzes the economic environment and market background that lead to the continuous increase of Chinese enterprises' transnational mergers and acquisitions,and expounds the supplementary significance of the research on the integration of transnational mergers and acquisitions to the existing theories.Secondly,this paper studies the domestic and foreign scholars on the definition of M&A integration,integration content division,the relationship between integration and enterprise development,integrated measures,such as the effect of matching cultural dimensions related to M&A,culture and cultural integration are reviewed respectively,it has been clear about the study of transnational merger and acquisition culture management issues of strategy,technology,organization,management,cultural training and hierarchy analysis.Furthermore,specific analysis is made on the acquisition of Serbian Company by HBIS.This article first introduces the development situation of both enterprise,analyzes the reasons of mergers and acquisitions and the whole process of mergers and acquisitions.This paper describes in details about the strategic differences,technical equipment differences,organizational structure and management principle differences that HBIS encountered during the integration of Serbian Company and the innovation of the integration measures adopted by HBIS.From the merger integration,culture integration achieved great results in this paper,through the analysis of effective measures of HBIS acquisition scheme,for domestic enterprises to carry out mergers and acquisitions of European companies to provide same type refer to cultural integration strategy.In this paper,through analyzing the deficiency of HBIS M&A Serbian Company,innovative improvement measures are put forward,and for other domestic enterprises to expand the thoughts about cultural fusion to be used as reference in Chinese enterprises overseas mergers and acquisitions,has enriched the Chinese enterprises successful M&A Europe typical case analysis.