Research On The Motivation And Effect Of GL TECH CO.,LTD’s Continuous Cross-border M&A

With the continuous adjustment of economic structure,many policies have been introduced to support the development of semiconductor industry and improve its innovation ability.Semiconductor industry has a high technical barrier,need to invest a lot of money,is a typical capital and technology intensive industry.Therefore,most semiconductor companies usually choose the way of successive cross-border mergers and acquisitions to acquire core technology,deepen industrial layout and broaden business scope.Semiconductor companies of different sizes have different benefits after successive cross-border mergers and acquisitions.Optical Power Technology is a small and medium-sized private enterprise entering the semiconductor industry through successive cross-border mergers and acquisitions,and the technology it has acquired has an important influence in the industry.Based on this,this thesis takes GL TECH as the research object to explore whether continuous cross-border mergers and acquisitions can bring positive benefits to small and medium-sized private enterprises.In this thesis,the continuous M&A process of GL TECH is firstly reviewed,the three overseas enterprises are introduced in detail,and the motivation of continuous cross-border M&A of enterprises is analyzed.Secondly,using the event study method to analyze the short-term effect after the continuous cross-border mergers and acquisitions.The long-term effect is studied by using relevant financial index,non-financial index,EVA model and factor analysis method.Combining qualitative and quantitative analysis,this thesis studies the risk of continuous cross-border M&A.Finally,it summarizes and summarizes the strategic objectives and effects achieved after the continuous cross-border mergers and acquisitions of Guangli Technology,and puts forward relevant suggestions.The research conclusion is as follows: Firstly,the motivation for the continuous cross-border mergers and acquisitions of GL TECH Technology lies in the formation of industrial layout,the realization of synergistic effects,changes in the macro environment,and the acquisition of core technologies.Secondly,after the continuous cross-border mergers and acquisitions of GL TECH Technology,the short-term effect is not good.Thirdly,after continuous cross-border mergers and acquisitions,the long-term effect of Guangli Technology has improved,and research and development investment has continued to increase,enhancing its competitiveness.In addition,research has found that although continuous cross-border mergers and acquisitions have not caused financial risks to GL TECH,there are risks such as merger integration,goodwill impairment,and innovation failure.Enterprises should be fully prepared to respond.In summary,the continuous cross-border mergers and acquisitions of GL TECH have brought positive effects to the enterprise.