Cross-border M&A Of Enterprises From The Perspective Of Internationalization Strategy Performance Evaluation Case Study

With the continuous deepening of global economic integration,cross-border mergers and acquisitions have become one of the effective ways of capital operation of Chinese enterprises.Since joining the WTO in 2001,Chinese enterprises have also joined the ranks of transnational mergers and acquisitions.The number of corporate mergers and acquisitions has increased year by year,and the scale of mergers and acquisitions has also expanded.In particular,China began to implement the "going global" development strategy in 2005;in 2014,China began to promote the "Belt and Road" development strategy.At the macro policy level,it has continued to increase its support for credit and taxation.“Going out” companies have created an excellent policy environment and provided excellent opportunities for their development and growth.Zhejiang Geely Holding Group(hereinafter referred to as "Geely")was established in 1986,and achieved major strategic transformation through cross-border mergers and acquisitions in 2007 and 2014,respectively,and promoted the effective implementation of its internationalization strategy.It not only has milestones in its development history.Significance,it also plays a significant role in the strategic transformation and cross-border mergers and acquisitions of other companies.Therefore,this article selects Geely's representative cross-border mergers and acquisitions events as the main research object,analyzes each of its cross-border mergers and acquisitions motives and the impact on the implementation of internationalization strategies,and analyzes the changes in corporate performance before and after cross-border mergers and acquisitions,and evaluates its implementation of corporate international strategies.Role of advancement.On this basis,taking Geely's multiple mergers and acquisitions as a whole,from the perspective of the company's internationalization strategy,it analyzes the internal connections between Geely's mergers and acquisitions events,and systematically analyzes the Geely's multiple mergers and acquisitions on the long-term performance of the company and the changes in corporate value.influences.The study found that: First,in the short-term completion of the merger and acquisition of Volvo Cars,Geely's financial situation is not ideal,but its innovation ability has been greatly improved,laying the necessary technical foundation for other subsequent mergers and acquisitions,and stepping forward to its international strategic development.The first step;Second,for the acquisition of Proton,after more than a year of internal integration,Proton's sales in the Malaysian automotive market have increased significantly.Geely has also successfully exchanged talent and technology for the market,and its global layout has been further improved;Third,looking at its development history in the past 10 years,Geely's development capabilities,innovation capabilities,and comprehensive strength have been significantly improved through multiple cross-border mergers and acquisitions,and its degree of internationalization is also among the best.Strategic goals of international development.