The Impact Of Corporate Social Relationship Networks On Corporate Off-site Mergers Andacquisitions

Nowadays,the global economic integration is accelerating,and the economies of various countries are also in line with international standards.In order to achieve expansion,a large number of companies tend to choose cross-national,cross-provincial,cross-regional off-site mergers and acquisitions.However,due to the complex personnel and issues involved in the process of off-site mergers and acquisitions,and the lack of management and operating capabilities of the enterprise after the completion of the merger makes the integration of resources after the merger difficult,in the practice of the off-site merger and acquisition project,Many businesses have failed.The success of an enterprise's off-site mergers and acquisitions is related to many factors,and the social relationship network of the enterprise is an important factor.In particular,China is a typical "relational" society.Studying how corporate social relationship networks affect corporate off-site mergers and acquisitions is beneficial to improving the performance of off-site mergers and acquisitions.Based on the information asymmetry theory,social capital theory,resource dependence theory,and market power theory,this article reviews the relevant literature.In the theoretical part,this article states the motivation and constraints of off-site mergers and acquisitions.Next,this article researches the relationship between the social relationship network of enterprises and off-site mergers and acquisitions,mainly from the three aspects of the company's shareholder relationship network,financial relationship network,and government relationship network.Analyze their impact on the off-site mergers and acquisitions.Finally,the paper analyzes the positive impact of social relationship network on the performance of off-site mergers and acquisitions,which provides a theoretical basis for the case study of this paper.This article attempts to use Huayi Brothers' merger and acquisition of YinhanTechnology as an example,and finds that Huayi Brothers will face problems of information asymmetry,financing difficulties,and government intervention when conducting off-site mergers and acquisitions.The Huayi Brothers' shareholder relationship network,financial relationship network,and government relationship network can solve the above problems by reducing transaction costs,providing policy support,funding protection,and releasing positive signals to investors,so that off-site mergers and acquisitions can be successfully completed.Finally,the investment effect of Huayi Brothers 'merger and acquisition of Yinhan Technology is analyzed,and the contribution of Huayi Brothers' social relationship network to improve its performance of off-site mergers and acquisitions is obtained.Based on this research,it is found that the soci alrelationship network of Huayi Brothers is conducive to improving the performance of off-site mergers and acquisitions.I hope that the research in this article will have implications for the off-site mergers and acquisitions of Chinese enterprises.