Research On Effect Of The Core Competitiveness On Chinese Enterprises Overseas Merger Acquisitions

Since china’s accession to the WTO, the term "mergers and acquisitions" are nolonger strangers，chinese enterprises in attracting foreign investment，also increased thepace of overseas mergers and acquisitions of capital expansion。China as the largestdeveloping country，domestic government "going out" policy incentives，began to enterthe international market，overseas mergers and acquisitions full swing phase.Enterprises overseas mergers and acquisitions are carried out in full swing, weshould also see the huge risk of overseas mergers and acquisitions, rising amount ofmergers and acquisitions is proportional to the effect of acquisitions, overseas toincrease the core, the company to gain a competitive advantage, we need to investigate.In recent years, the literature mainly in overseas mergers and acquisitions motivation,overseas mergers and acquisitions as an entry point, few empirical studies of the corecompetitiveness overseas acquisitions, Therefore, the factor analysis of33listed sampleof company acquisitions round the core competitiveness upgrading and M&Atransactions characteristics of the core competitiveness of research, to explore the corecompetitiveness of Chinese enterprises in recent years to enhance the mergers andacquisitions situation.The framework of this study is divided into five parts, the first part is the theoreticalrelationship of enterprises overseas M&A and core competitiveness analysis, the secondpart of Chinese enterprises overseas M&Analysis, comparative analysis of the third partof the factor analysis method of overseas the core competitiveness of mergers andacquisitions, the fourth part is the impact analysis of M&A transactions of the corecompetitiveness of enterprises, fifth based in part on the results of empirical analysis todraw conclusions and corresponding policy recommendations. The main conclusions is:on the whole, the core competitiveness of overseas M&A V-shaped trend during thefour-year window period, overall, the core competitiveness of Chinese by companiesshowed,M&A had a significant decline, the company’s core competitivenessincreased significantly after the merger. Manufacturing, energy and non-manufacturingenergy sector by companies showed overseas M&A core competitiveness in mergers and acquisitions that mean score of greater decline.State-owned enterprises mergers andacquisitions core competitiveness of the composite score is Xianyihouyang "∽" trends,non-state-owned enterprises M&A composite score of core competitiveness isincreasing year by year trends.