Improve The Ability Of Cross-border Merger And Acquisition Of Chinese Enterprises

Recently,the outward foreign direct investment of Chinese enterprises increase quickly. Subsequently,the cross-border merger and acquisition(M&A)of Chinese enterprises increase significantly and it begins to play a more and more important role in OFDI.The new thing gives our enterprise a lot of chances, however,in reality many M&A cases failed.Then what is the reason and how to improve the ability of cross-border M&A of Chinese enterprises? Successfully solving the problem,will improve the ability of cross-border M&A and finally acquire sustained competitive advantage of Chinese enterprises.So,the analysis of the ability of cross-border M&A of Chinese enterprises will be of great importance.With the development of the activities of cross-border M&A of Chinese enterprises,many academic experts interpret the thing based different perspectives and ways.But until now,the theoretical research about cross-border M&A is not systematic.And all the interpretation about cross-border M&A bases foreign direct investment theory.These include enterprise M&A theory,industry theory,strategic resource theory and internalization theory.The author of this paper bases sustained competitive advantage to treat the activities of cross-border M&A of Chinese enterprises.and according to absorptive capacity theory, analyze the subsequence of the difference of the case of LENOVO M&A IBM PC and the case of TCL M&A THOMSON.Finally,we draw a conclusion that the key of the success of cross-border M&A is absorptive capacity and so we offer innovative suggestions.