Cross-border Mergers And Acquisitions Of Chinese Enterprises Of Cultural Conflict Research

Multinational Merger and Acquisition(M&A) is an important means for an enterprise to enlarge its operation scale, increase its strength and improve its efficiency in the whole world. In the context of economic globalization, Chinese enterprises have participated in multinational operations and global market competition actively, and become an active leading actor increasingly. Since 2008, the American sub-loan crisis has caused the whole world financial crisis. The worldwide enterprise assets price has fallen and the enterprises fall into the fund difficult position generally. Under this background, the large amount of foreign exchange reservation of China, the Renminbi revaluation and revaluation anticipated coexisting, which provide Chinese enterprise tremendous opportunity of multinational merger and acquisition. As the scale and influence of multinational M&AS become more and more great, it is inevitable to meet numerous resistances, especially the resistances which result from the cultural difference and conflict. In multinational M&AS, the process of enterprises' internationalization is actually the process of Trans-Cultural changes and communication. Collides and conflicts can possibly be produced when different culture meets together. Especially Chinese enterprise's transnational activity has been in the junior stage still, and their international decision-making level and ability of transnational integration are very low. Thus multinational M&A of Chinese enterprises meet challenges bringing of culture differences as well as culture conflicts. Just under this background, the thesis researches the problem of cultural conflict in the process of multinational M&A of Chinese enterprises.This thesis includes six Parts. First discusses the background and significance, Summarizes literature. Second expatiates on the theory of multinational merger and acquisition, enterprise culture and cultural conflict. Part three analyses the present situation of Chinese enterprise multinational merger and acquisition from several aspects of course, characteristic, challenge and opportunity. On the basis of Chinese and foreign scholars' research results, this thesis focuses on analyzing Part four: the cultural conflict of Chinese enterprise multinational M&A. Firstly, this part analyses Trans-cultural difference and Trans-cultural conflict from the two aspects of cultural difference's level and function, and the reason, type as well as the influence to M&A of cultural conflict. Secondly, it analyses performance and influence of cultural conflict of Chinese enterprises' multinational M&A on the basis of the comparison of Chinese and western enterprise cultural difference. Finally it makes further empirical analysis on cultural conflict of Chinese enterprise' multinational merger and acquisition which unified the concrete failure case of TCL merged Alcatel mobile phone service. After this, Part five establishes an effective cultural conflict appraisal model. Part six provides appropriate cultural conflict solution unifying the actual situation of Chinese enterprises' multinational M&AS, in order to direct the decision and management of Chinese enterprises' multinational M&AS.