Corporate Intellectual Capital In Strategic Acquisitions Integration

M&A is an effective approach for company expansion and development as well as an important route for resource configuration optimization and industry upgrade. Since 90's in the 20th century, with the global industry structure adjustment and rapid pace of economy conjunction, the fifth M&A tide has spread over the world. At the same time, arousing wide-range attention, M&A in our country ran rapidly. But compared to exciting amount of transaction cases of M&A, the failure ratio of M&A is up to 50%. Neglecting the post-acquisition integration is the most important reason for the failure of M&A.In knowledge economy era, Intellectual Capital (IC) is becoming an important incentive of M&A. For a company that will carry out a M&A strategy, whether be able to integrate the intellectual capital effectively is the key to the success of M&A. The paper applied a few theories including M&A, IC and knowledge management and got favor from several research approaches such as combinations of quantitative analysis and qualitative analysis, theory research and application research. The author originally put forward a post-acquisition intellectual capital integration analysis framework and approach system.Firstly the paper simply introduced the significance, method, innovation and structure frame of post-acquisition intellectual capital integration study in the prolegomenon. Then we reviewed and commented briefly the relevant theories of M&A and post-acquisition integration in the second chapter. On this basis, we proposed the post-acquisition intellectual capital integration model from four aspects of CI level, the influence factors of CI integration, CI integration mechanism and CI integration effect evaluation. These formed main contents of the third chapter. We analyzed identification and protection of CI in the fourth chapter, and pointed out the IC general value chain model and the protection tactics. In the fifth charter, we analyzed influential factors of IC integration in detail from four aspects of the M&A participants' organizational...