Strategic Merger Research Based On Kernel Competitive Securities Companies

Kernel competitiveness theory has triggered rethinking of the basic enterprise value and change of thinking way, meanwhile, it evolved the development strategy view of enterprise from a deeper layer. Merge is a important method of enterprise capital behave, it connected combination and kernel competitiveness together, this means that merge of enterprise goes along with enhancement of kernel competition, this is the interpretation and understanding of strategy merge by this article.as the main body of the capital market, Securities companies,affecting the prospects of the development of the capital market. kernel competitiveness of securities company is inherently difficult to imitate and also an alternative intellectual ability or assets different from other securities companies , form their own the basis of sustainable competitive advantage. To competitive capital market becoming market-oriented, the future securities restructuring through mergers and acquisitions between companies achieving the competitive landscape will be ripe is an inevitable trend, expected in the future, will be involved in mergers and acquisitions of securities companies of their own merger and acquisition activity as a research object to a certain extent practical significance.This article points out the importance of the strategic acquisition to the development of enterprise, as the acquisition theory, which is divided into mining of strategic acquisitions and upgrading of two phases, the structure cast on the basis of this artile, theoretical framework and secondly, securities companies as a research entities, according to the the index systeme of influence by the Kernel competitive of securities company, with the analysis of the empirical factor, these factors which have influented the kernel competitiveness,will be divided into three grades, as a mode of acquisition of securities companies build strategic basis ;Finally , the article select CITIC Securities merger as a case history of growth, both positive and negative from the point of view of analysis, and draw the kernel competitiveness of identification, is the choice of target enterprises strategic mergers and acquisitions of securities companies is the key prerequisite for success, only securities companies make full preparations to realize its ultimate strategic goal.In short, the future of the stock market competition will become more intense, securities companies rely on their own core competitiveness in the face of fierce competition to get more opportunities. This extension means acquisitions choice to nurture and enhance kernel competitiveness of securities companies can help mergers and acquisitions, securities companies scattered in different expertise, skills, capabilities elements, through the effective acquisition, the ability of these elements in the relevant links and in a new role and enhancing the competitive edge of the kernel competencies.