Internationalisation of Chinese Enterprises : A Comparative Study of Cross-border Mergers and Acquisitions

This book investigates cross-border mergers and acquisitions (M&A) conducted by Chinese enterprises seeking to evaluate the pivotal factors that influence the results of this dominant form of China’s outbound direct investment. In contrast to previous studies, the author places a particular focus on the provenance of the supply side as a determinant of overseas M&A, comparing acquisitions where target companies originate from developed and developing countries. Other major indices identified include cultural and industrial differences between targets and buyers, enterprise ownership, deal payment forms, types of consolidation and the market environment. Based on investment theories, quantitative analyses and several in-depth case studies, the book elucidates how these factors synergistically determine the success or failure of an acquisition attempt and the short- and long-term performance of Chinese companies’ M&A undertakings. This work will be a practical reference for M&A practitioners as well as academics interested in transnational corporations and mergers, capital market and international investment. "This book investigates cross-border mergers and acquisitions (M&A) conducted by Chinese enterprises, seeking to evaluate the pivotal factors that influence the results of this dominant form of China's outbound direct investment. In contrast to previous studies, the author lays particular stress on the provenance of the supply side as a determinant of overseas M&A, comparing acquisitions where target companies originate from developed countries and those from developing countries. Other major indices identified include cultural and industrial differences between targets and buyers, enterprise ownership, deal payment forms, types of consolidation and the market environment. Based on investment theories, quantitative analyses and several in-depth case studies, the book elucidates how these factors synergistically determine the success or failure of an acquisition attempt and the short- and long-term performance of Chinese companies' M&A undertakings. This work will be a practical reference for M&A practitioners as well as academics interested in transnational corporations and mergers, capital market and international investment"-- Provided by publisher Cover Half Title Series Page Title Page Copyright Page Table of Contents List of Figures List of Tables Foreword I Foreword II Acknowledgements Chapter 1 Introduction Chapter 2 Theoretical review and literature review Chapter 3 Hypothesis development and research design Chapter 4 Empirical study and analysis Chapter 5 The success or failure and performance of cross-border mergers and acquisitions of iron ore resources by Chinese state-owned enterprises Chapter 6 Conclusion Chapter 7 Overseas supplement References Index The book investigates cross-border mergers and acquisitions (M&A) conducted by Chinese enterprises, seeking to evaluate the pivotal factors that influence the results of a dominant form of China's outbound direct investment.