M & A Research, Based On Intellectual Capital Management, Corporate Strategy

Enterprise merger and acquisition (M&A) accompany with thedevelopment in industry economy, How did it development in theknowledge-based economy ages? In the traditional industry Economyages, the enterprise material capital play a important status, being theprincipal part of enterprises value create; In Knowledge-based economyages, the enterprise intellectual capital replaced the function of itsmaterial capital gradually, becoming the principal part of enterprisesvalue create. The finally purpose of enterprise strategic M&A is creatingvalue, in the traditional industry Economy ages, strategic M&A make apoint of the M&A and integration of the material capital, in theknowledge-based economy ages, for achieving the value creation, shouldenterprise strategic M&A attention the M&A and integration of theintellectual capital? In this paper we researched surrounding enterprise strategic M&Avalue creates on intellectual capital. On based of summarizing thetheories of enterprise M&A motivation and intellectual capitalmanagement, firstly, we analyzed three modes of firm growth, andclarified how to choice the mode of firm growth M&A; secondly, wedesigned enterprise strategic M&A mode on intellectual capitalmanagement and the fuzzy evaluation mode of enterprise intellectualcapital and the choice and evaluation mode of the M&A target enterprise;Afterward, we demonstrated the relation between enterprise M&A valuecreation with their intellectual capital; finally, on the basis of analyzingthe integration management of M&A intellectual capital, we expatiatedthree strategic M&A modes on intellectual capital combiningrepresentative cases. The concrete contents include: In chapter one, the theory of enterprise M&A motivation andintellectual capital management are summarized. Through searching andsummarizing the theories, we think enterprise M&A have developed thephase of strategic M&A, and the successful standard is value creation.Being the principal parts of enterprises value create, enterpriseintellectual capital mast be the principal attention objective of strategicM&A. In chapter two, three enterprise growth modes are analyzed. Based onthe three enterprise growth modes, we expatiated how to select them ontheir intellectual capital in in the knowledge-based economy ages, andcompared the enterprise M&A with strategic alliance, and how to choicethe enterprise M&A growth mode. In chapter three, the enterprise strategic modes on the intellectualmanagement are designed. In this paper, we designed enterprise strategicmodes on the intellectual management. Through the mode, firstly, weevaluated the intellectual capital both sides of M&A, so we designed thefuzzy evaluation mode of enterprise intellectual capital; secondly wecompared the intellectual capital status both sides of M&A, and madesure the types of enterprise strategic M&A; Again we analyzed theintellectual capital functions in enterprise value creation, designed thechoice and evaluation mode of the M&A target enterprise, and evaluatedthe value creation of three strategic M&A; Finally, we analyzed theintegration management of the intellectual capital both sides M&A. In chapter four, the M&A value creation of Chinese public corporationon their intellectual capital is demonstrated. In this paper, using the M&Adata of Chinese public corporation and the EVA evaluation mode, wedemonstrated the relation between the value creation of enterprise M&Aand their intellectual capital, so as to validated that it could create thevalue in enterprise M&A, and the value has correlation with theintellectual capital and their integration both sides M&A. In chapter five, the general mode of the intellectual capital integrationmanagement in enterprise strategic M&A is discussed. In former contents,we know the strategic M&A value rooted in the intellectual capitalintegration management both sides M&A; Therefore, through the theoriesof enterprise contract, corporation reformed and value chain, we analyzedthe intellectual capital integration management, clarified the character,content, mechanism a...