Research On Risk Control Of Cross-border Mergers And Acquisitions Of Listed Companies

Since the twentieth century,more and more enterprises have chosen to use cross-border mergers and acquisitions to expand.Cross-border mergers and acquisitions have become one of the important means for Chinese enterprises to grow in scale,optimize the allocation of resources,and enhance their own strength and international competitiveness.With the increasing number of cases of cross-border mergers and acquisitions,drawbacks have also begun to emerge.Although most theories believe that cross-border mergers and acquisitions can improve company performance,there are endless cases of failure and integration problems.Most of the existing achievements tend to study the motivation and risk of transnational mergers and acquisitions,but less systematic research on economic consequences.Therefore,this paper chooses the case of transnational mergers and acquisitions of STATS ChipPAC of China’s semiconductor industry Changdian Science and Technology Co.,Ltd.and combines the risk control in mergers and acquisitions to analyze the successful experience of mergers and acquisitions or the causes of losses,and to explore the economic consequences of It is of great significance for other enterprises to provide suggestions and countermeasures.This paper studies the impact of risk control on the economic consequences of transnational mergers and acquisitions.Taking Changdian Technological Mergers and Acquisitions STATS ChipPAC as an example,firstly,it analyses the motivation of transnational mergers and acquisitions,then introduces the process of mergers and acquisitions and the risks of mergers and acquisitions.Finally,it analyses the risk control and economic consequences of mergers and acquisitions.The research content of this paper is divided into five parts:First,the introduction,mainly introduces the research background,significance,main content,research methods,innovation points and the structure of writing.2.Literature review and theoretical basis,the risk of cross-border mergers and acquisitions and the economic consequences of mergers and acquisitions related literature were collated.Thirdly,the paper introduces the background,motivation,process and risk of Changdian’s technology merger and acquisition of STATS ChipPAC.Fourth,case analysis,using relevant theories to analyze the risk control and economic consequences of Changdian Technology Merger and Acquisition of STATS ChipPAC,and summarize the economic consequences of this cross-border merger and acquisition.5.Enlightenment and suggestions.According to the risk control and economic consequences of Changdian S&T’s M&A of STATS ChipPAC suggestions are put forward to improve the cross-border M&A of Chinese enterprises,and suggestions are put forward to reduce the risk of M&A and enhance the economic consequences of M&A.The main conclusions of this paper are as follows:(1)The control of financial risks in cross-border M&A runs through the whole process,which can reduee the negative impact of uncertainties and financial risks in cross-border M&A and help to bring synergy into play;(2)In the pre-stage of cross-border M&A,the risk control of enterprise value evaluation can form a reasonable premium to investors.Positive signals will help to reduce the pressure of debt repayment in the later stage;(3)In the mid-term of cross-border M&A,the control of financing risk can make M&A go smoothly,and a reasonable financing structure can reduce the pressiore of debt repayment;(4)In the late stage of cross-border M&A,the control of integrated financial risk will help to eliminate the potential adverse effects of M&A,promote integration and improve the performance of M&A.With the continuous development and maturity of China’s economic market,more and more enterprises are pursuing better and faster development,relevant laws and regulations are constantly improving,and merger and acquisition cases are also increasing.With the case of Changdian Technology’s transnational acquisition of STATS ChipPAC,this paper analyses the risk control and economic consequences of mergers and acquisitions,which can be used as a reference for the transnational mergers and acquisitions of private enterprises in China...