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.
Table of Contents
1. Introduction 2. Theoretical Review and Literature Review 3. Hypothesis and Research Design 4. Empirical Study and Analysis 5. The Success or Failure and Performance of Cross-border Mergers and Acquisitions of Iron Ore Resources by Chinese State-owned Enterprises 6. Conclusions 7. Overseas Supplement
JIA Zongda, Ph.D. in Business Administration, is Senior Partner at Beijing Tiantai Law Firm based in Shanghai, China. He is experienced in cross-border acquisition and also specialises in security issues and capital markets.