analysis on cross-border m&as and performance in china论文

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1、对外经济贸易大学硕士学位论文AnalysisonCross-borderM&AsandPerformanceinChina姓名：赵爽申请学位级别：硕士专业：国际贸易学指导教师：唐宜红201105AbstractWi也therapiddevelopmentofChineseeconomy,moreandmoreChineseenterprisesarenowgoingabroadtoseizetheforei朗market．Nowadays，CROSS．bordermergersandacquisitionsbecomeoneofthemostimportantmodesforanenter

2、prisetoquicklygettingintotheinternationalmarket．Therewerefivewavesofmergersandacquisitionscommencingfromtheendofnineteenthcentury．Sincethefinancialcrisisin2008，theworldeconomyhasbeeninarecessionandthemarketvalueofmanvfamouswesternenterprisesshrunkdramatically．Mostofthoseenterpriseshavealonghistory

3、andhaveaccumulatedsuitablecorporateculturesandabundantexperienceofmanagement．Forthesereasons，theacquirersoftheseenterpriseswillgainalotofextrabenefitsthroughmergersandacquisitions．Butscholarstold118thatabout70％ofCI'OSS-bordermergersandacquisitionswouldfailatlast．Therefore，itisofgreatnecessarytohav

4、eaclearviewofthepresentsituationofcross．borderandacquisitionsinChinaandmakeanalysisofsometypicalcasestolookintotheperformanceaftertheacquisition．Thisdissertationbasesonthetheoryofmotivationsandeffectsofmergersandacquisitions，makeresearchintothecurrentsituationofcrOSS．bordermergersandacquisitionsin

5、ChinaandmakeanalysisofthreetypicalGasesofcross．borderM&Astakingplacein2004towainthereadersthatcarefullyresearchmustbemadebeforemergersandacquisitions．Meanwhile，goodintegrationoftheresources，managementlayersandculturesareessentialtotheSuccessofanacquisition．Thisarticleisdividedintofiveparts．Chapter

6、1istheintroduction，whichintroducesthebackgroundandsignificanceofresearching，researchmethodandstructureofthedissertation．Chapter2mainlycontainsthetheoriesofmotivationsandeffectsofmergersandacquisitions．Inchapter3，thepresentsituationofcross-bordermergersandacquisitionswillbeanalyzed．Chapter4talksabo

7、utthemethodsofevaluatingtheperformanceacquirersandbringthreeexamplesofChineseenterprises．Chapter5sumsupthispaper．Keywords：Cross—borderM&As，Presentsituation，EvaluationofperformanceChapter1Introduction1．1Researchin