Research Of Guangdong Enterprises To Cross-border Mergers And Acquisitions

With the deepening of economic globalization and integration, cross-border mergers and acquisitions gradually replace the "greenfield investment", and become the main way of major multinational corporations to implement their strategy of internationalization. After the financial crisis, the economies suffered different levels of losses, and there is no exception for China’s economy. As Guangdong province is a large economic and export-oriented province, the financial crisis has posed a huge impact on the economy of Guangdong province. At the same time, Chinese enterprises did a lot of cross-border mergers and acquisitions. In this context, by the statistics of theoretical research on cross-border mergers and acquisitions of enterprises at home and abroad, combined with Qingke data base, cross-border mergers and acquisitions exposed by media and information from enterprises’ websites from2000to June2012, the paper summarizes four characteristics of mergers and acquisitions of enterprises from Guangdong Province and six characteristics of cross-border mergers and acquisitions of enterprises from Guangdong Province; and analyzes the differences and weaknesses of cross-border mergers and acquisitions from Guangdong and Zhejiang, Jiangsu, Shandong provinces to find out the problems exist in cross-border mergers and acquisitions of Guangdong enterprises. First, the cross-border mergers and acquisitions of enterprises mainly gathered in Shenzhen and Guangzhou, the geographical coverage of them is relatively narrow. Second, cross-border mergers and acquisitions mainly covered electronic information, energy resources and home appliance manufacturing industry, and less involved in other industries. Third, the main driver of cross-border mergers and acquisitions is the lack of brand mergers and acquisitions, and there are no cross-border mergers and acquisitions of capital raising and the industrial chain improving type of enterprises from Guangdong province. Fourth, the proportion of cross-border mergers and acquisitions of state-owned enterprises and private enterprises from Guangdong province is the highest among four provinces, but cross-border mergers and acquisitions of private enterprises from other provinces are more dynamic than in that from Guangdong province. Finally, recommendations are given from the government and enterprise level.