Research On The Influence Of National Cultural Differences,cross-cultural Absorption Ability And Cross-border M&a Performance

With the increasing number of m&a cases and the expansion of the scope of m&a,m&a has become a common way for enterprises to expand rapidly.In the pursuit of economies of scale,in order to go abroad to obtain a broader market,better talents and more advanced technology,Chinese enterprises have also actively participated in the global competition and actively carried out cross-border mergers and acquisitions.However,the pace of Chinese enterprises' overseas mergers and acquisitions is not smooth.According to a recent McKinsey study,in the past 20 years,67% of China's overseas mergers and acquisitions failed.On the other hand,due to the existence of national cultural differences,enterprises cannot successfully acquire and absorb knowledge.As for the ethnic cultural differences,most studies believe that the existence of ethnic cultural differences will bring challenges in cognition,practice,skills and other aspects to the m & a enterprises,thus affecting the performance of m& a.National cultural difference is an important variable that affects the process and performance of transnational mergers and acquisitions.In the process of m&a,whether the knowledge of the target enterprise can be absorbed effectively is the key factor for the success of cross-border m&a.Based on sino-german culture background to Portsmouth sany heavy industry mergers and acquisitions,for example,based on the china-germany cross-border m&a performance problems,absorptive capacity theory and cross-cultural integration theory,thoroughly discusses the content structure of the sino-german cross-cultural absorptive capacity,and as an intervening variable of national cultural differences and the performance of cross-border m&a mediation mechanism,research mainly includes the following several parts:(1)based on the literature research and system thinking,this part of the first system carding about national culture differences,cross-cultural absorptive capacity,the performance of cross-border m&a literature research,and analysis of the connotation of cross-cultural absorptive capacity,and then based on absorptive capacity theory and cross-cultural integration theory obtained the national cultural differences,the influence mechanism model of cross-border m&a performance.(2)development of the content structure model of Chinese and German cross-cultural absorption ability.Using the literature research method and the grounded theory research method,four content structure factors of the content structure model of intercultural absorptive capacity are obtained,which are:intercultural knowledge recognition,intercultural knowledge digestion,intercultural knowledge integration and intercultural knowledge innovation.(3)practical case analysis.In the data analysis section,correlation analysis,multivariate anova,multivariate regression analysis and other statistical methods were used to verify the mediating role of cross-cultural absorptive capacity in the process of the influence of national cultural differences on the performance of transnational mergers and acquisitions.Based on the research and analysis,this paper finally summarizes the effective measures that China's transnational mergers and acquisitions enterprises can take in the face of national cultural differences.It is hoped that this study can provide a reference for more Chinese enterprises.