Continuous Overseas M&A Capability And Performance Research Of Chinese Auto Parts Enterprises

One of the important strategies for enterprise growth is to invest directly,and one of the important forms of foreign investment is merger and acquisition.At present,many enterprises in our country are in the rush of overseas mergers and acquisitions,and the auto parts industry,as a member of the overseas m&a army,is also actively exploring the road of overseas m&a.At present,the Chinese enterprises in overseas mergers and acquisitions has achieved initial results,Chinese enterprises in overseas mergers and acquisitions constantly expand the scale of operation,quickly occupied the market,on the number of overseas mergers and acquisitions implementation is also growing,continuity characteristics.The merger and acquisition activity of listed companies in China has been changed from single to multiple m&a,which makes the continuous merger of listed companies become a new research object.However,due to the late start of domestic and overseas m&a,some enterprises still have insufficient experience,and China has less research on the continuous overseas m&a of enterprises.Therefore,how to achieve the success of overseas m&a and the ability of enterprises to use previous m&a experience to obtain m&a performance has received extensive attention from the corporate and academic circles.In this paper,we study the ability and performance of continuous overseas mergers and acquisitions.First of all,the paper to the enterprise overseas m&a and defining the continuous acquisition,to the enterprise m&a theory and m&a theory expounded in a row,including economies of scale,synergy,organizational learning theory and learning curve model,etc.,for after all-electronic continuous overseas m&a analysis provides a theoretical basis.Followed by the current situation and development prospect of China's auto parts enterprises are analyzed,and briefly introduces the all-electronic serial acquisition case situation,and carries on the continuous acquisition of agent are analyzed.Second,for after all-electronic in continuous overseas m&a target selection,payment of the financing way and integration effect ability were analyzed,and the ability of continuous overseas m&a various qualitative evaluation.In addition,the short-term performance and long-term performance evaluation after the continuous acquisition of all winning electrons.Short-term performance is analyzed through the event analysis method,and long-term performance is analyzed through long-term solvency,profitability,growth ability and operational risk.Finally,through the analysis of overseas mergers and acquisitions consecutive concrete conclusions,and for continuous overseas mergers and acquisitions of our auto parts enterprises give many Suggestions,establish and improve the ability of continuous overseas m&a evaluation and performance appraisal system,and pay attention to the financing problems in the process of overseas m&a,attaches great importance to the preparing work before m&a and integration problems than after purchase.At the same time,find out the limitations of the paper and the prospect of the future development of the overseas continuous m&a of auto parts enterprises.