Research On The Synergy Effect Of Intellectuai Capitall In The Case Of Lenovo Merger

M&A has become the enterprise assets and market operation of a common economic model, now more and more high to the attention of the knowledge, global mergers and acquisitions both sides supplies integrated effect and strategies directly determines the success of M&A, the main purpose of the current M&A is to obtain the intellectual capital of the enterprise mergers and acquisitions, mergers and acquisitions after the ascension of intellectual capital value is directly affects the success or failure of mergers and acquisitions.Abroad in the 1960 s, it was the first to open the knowledge capital theory research, however,was the focus of the research is mainly relationship between intellectual capital and enterprise performance with the few studies involves the knowledge of m&a capital, how to accurately assess the knowledge capital value after M&A and assessment,Through knowledge capital to promote the further development of the enterprise, has gradually become the focus of research topic, has the very high research value. Thus we can see that explore knowledge value after the merger for mergers and acquisitions in real market economy not only both sides have very important guiding significance and practical value,and to ascend into the speed of resources integration, and enhance China’s enterprises has great influence in the international market influence.Based on the theoretical part of m&a theory first, and synergy theory and analysis, and then illustrates the knowledge capital theory and related research. On the basis of the knowledge capital is further subdivided into three dimensions, the relationship capital,structural capital and human capital respectively, and then measured after merger and acquisition of knowledge capital in detail, and points of three dimensions of intellectual capital synergy as well as the relationship with corporate performance, in order to facilitate subsequent case study smoothly.This article selects the pioneer of cross-border m&a in our country enterprise, lenovo group, the road to a decade of mergers and acquisitions that lenovo has grown, as a high-tech enterprises, the change of the knowledge capital and collaboration will surely become the basis of its successful m&a, the case was so lenovo acquisition a decade of intellectual capital as the research object. From lenovo opens the way of m&a motives, M&A target selection,acquisition methods, to promote the knowledge capital synergy three aspects analysis,summarizes the lenovo promote knowledge capital synergy strategy after the merger.Secondly, on the basis of predecessors’ research building of the knowledge capital value evaluation index system, using the analytic hierarchy process(ahp) to select important indexes, the introduction of lenovo relevant data, analysis of lenovo in the process of M&Atrend of the change of the capital stock and collaborative knowledge. Then ten years of lenovo,m&a is analyzed, the main financial indicators of change on the one hand, analysis the change of the enterprise performance, on the other hand disproof synergy effects of intellectual capital value. Finally, according to the above lenovo merger experience and revelation of concluded, for Chinese enterprises to provide experience for similar mergers and acquisitions.