Risk Measurement And Evaluation Of Overseas Mergers And Acquisitions Of China's Textile And Garment Enterprises

This paper takes Shandong Ruyi merger and acquisition of Japanese RENOWN in 2010 as a case study,and deeply analyses the risk measurement and evaluation of overseas mergers and acquisitions of Chinese textile and apparel enterprises.This further broadens the risk measurement and evaluation channels of enterprises overseas M&A,and provides a good theoretical and practical guidance for enterprises to carry out overseas M&A.Firstly,the concept of overseas mergers and acquisitions is explained in detail,and the risks of overseas mergers and acquisitions are classified.On the basis of the classification,the risk scale system of overseas mergers and acquisitions of textile and apparel enterprises in China is sorted out,and the risk of overseas mergers and acquisitions is explained in a more specific model by analytic hierarchy process.Secondly,in order to describe the magnitude of overseas M&A risk more fully,this paper chooses the time series model in statistics and the extended model to quantitatively analyze and summarize the risk of overseas M&A.Then,this paper uses the method of fuzzy comprehensive evaluation to make a comprehensive analysis of the time series model,and chooses the first two risk indicators in AHP to establish a mathematical model,which fully shows the functional relationship between risk types and overall risk.Finally,this paper puts forward some countermeasures to deal with the risks of overseas M&A of textile and apparel enterprises in China,mainly including the corresponding risk prevention at the national level and the enterprise level.The state should promulgate corresponding laws to protect the safety of overseas M&A.At the enterprise level,more attention should be paid to due diligence before overseas M&A and the integration of corporate culture after successful M&A.The integration of technology,manpower and finance can effectively avoid and prevent the occurrence of M&A risks,and then lay a good foundation for the strategy of going out for enterprises.