Research Overseas M&A Technology Integration Of Manufacturing Enterprises From The Perspective Of Risk Management

In recent years,the adjustment of global industrial structure has pushed the development of China's manufacturing enterprises to a new level.The current technical level of China's manufacturing enterprises is relatively backward,and,the ability of independent innovation is weak.Therefore,the implementation of overseas mergers and acquisitions has gradually become an important choice for manufacturing enterprises to acquire key technologies,promote technological innovation and industrial upgrading.But on the whole,the failure rate of overseas M&A of Chinese manufacturing companies remains high.For manufacturing companies that acquire core technology for M&A,the lack of M&A technology integration is the most important reason for the failure of overseas M&A.Enterprises face multiple risks in the process of technology integration,and once the risk is lost,it will lead to merger failure.Therefore,it is important to study how to implement risk management in the process of technology integration for manufacturing companies that implement overseas mergers and acquisitions,which is of great significance to improve the success rate of overseas M&A of Chinese manufacturing enterprises.The predecessors'research mostly starts from the M&A model and the integration mode,and analyzes the preventive effect of different modes on the risk of technology integration.The research on the factors affecting the risk of technology integration is mostly based on the middle and late stages of technology integration.The risk analysis is insufficient,and it is impossible to construct a complete overseas M&A technology integration risk identification system.It also fails to propose specific risk control methods for each technology integration risk or propose a clear technology management route from the perspective of risk management.Therefore,this paper will use the case study method to carry out the research on the integration mechanism of manufacturing companies'overseas M&A technology from the perspective of risk management.First of all,this paper puts forward the research questions based on the literature review of related literatures at home and abroad.Then,this paper introduces the overseas M&A cases of manufacturing company B,including the introduction of the two parties,the motivation of mergers and acquisitions,the technology integration process of M&A and the integration performance of M&A technology.Finally,this paper is divided into three stages:technology selection,technology transfer and technology reconstruction.Based on the characteristics of overseas mergers and acquisitions of manufacturing companies,taking the merger and acquisition case of Company B as an example,by analyzing the process of identifying and controlling the risk of M&A technology integration,the mechanism of overseas M&A technology integration of manufacturing enterprises from the perspective of risk management is.studied,and the overseas mergers and acquisitions are implemented.The manufacturing company provides a reference for technical integration work.Through the research,the paper draws the following conclusions:(1)The risk management of manufacturing companies to strengthen the process of overseas M&A technology integration can effectively improve the success rate of technology integration.(2)This paper divides the process oftechnology integration into the process of technology selection,technology transfer and technology reconstruction in the whole process of M&A preparation,M&A implementation and post-merger integration of overseas M&A of manufacturing enterprises.On this basis,the risk management operation process of the enterprise in various stages of technology integration is clarified,and the specific criteria for evaluating the integration effect after the completion of the technology integration work are put forward.(3)This paper summarizes the eight risks faced by enterprises in the process of overseas M&A technology integration.On this basis,it explores the mechanism of overseas M&A technology integration of manufacturing enterprises from the perspective of risk management.On the one hand,it can enrich overseas M&A technology integration.The theoretical perspective of relevant research,on the one hand,can provide guidance for the implementation of technology integration for manufacturing companies that implement overseas mergers and acquisitions.