Research On Cross-border M A Strategies Of Private Enterprises In China

In recent years,along with the increasingly fierce international competition and the take off of China's economic development,the government encourages enterprises to "go out" for cross-border m&a policy encouragement,several big companies response to the government positively,expand enterprise international landscape actively,the m&a market increasingly blustery,m&a has become an important way of enterprise to the international stage.private enterprises Occupy an important position in national economy of the status,their positions in cross-border m&a also not allow to ignore,private enterprises as an important part of our country's economy,has been actively trying to cross-border mergers and acquisitions.However,compared with enterprises in developed countries,China's private enterprises have insufficient capacity in cross-border m&a.So the Chinese private enterprises cross-border m&a ability cultivation,help to enrich to perfect the relevant theory of cross-border mergers and acquisitions to some extent,mergers and acquisitions can also for the enterprise actual work in the process of providing theoretical reference,for China's private enterprises to explore their own way to contribute to the success on the international stage.This paper reviews the relevant literature on the cross-border mergers and acquisitions of private enterprises in China,and finds that the research on the selection of mergers and acquisitions strategies to improve merger and acquisition capabilities is still in the theoretical cultivation phase.Then based on the relevant theories put forward by the academic community,this study proceeds from the international production eclectic theory,comparative ownership advantage theory,resource based theory,and the composite foundation.It aims to clarify the need for mergers and acquisitions of private enterprises in the process of cross-border mergers and acquisitions.How the ability is formed,and the focus of the research is on sorting out the M&A strategies that need to be chosen in the cross-border M&A of private enterprises.This article is divided into seven chapters.The first chapter is the research purpose,background significance and literature review.The second chapter is the definition and theoretical basis of related concepts.The third chapter analyzes the status quo andcharacteristics of the cross-border mergers and acquisitions of private enterprises in China.The fourth chapter is based on the definition of the concept of M&A capacity from the three aspects of the external environment,internal resources and M&A integration.It constructs a cross-border M&A strategy selection framework for private enterprises in China.The fifth chapter takes Fosun Group,a representative private enterprise implementing cross-border M&As,as an example to briefly introduce the basic conditions of the group and the motivations for conducting cross-border mergers and acquisitions.Combining the literature review and theoretical analysis with the actual situation,combined with Fosun The actual practice of the Group validates the operability of the cross-border M&A strategy selection framework for private enterprises in China.The sixth chapter puts forward corresponding policy recommendations from the private enterprises themselves and the government level.The seventh chapter is the conclusion and prospect of this article.This study aims to clarify how Chinese private enterprises should improve their M&A abilities by choosing the right M&A strategy in the process of cross-border mergers and acquisitions.Its practical significance lies in enabling Chinese private enterprises to use this as a reference basis for better participation.International competition.