| With the rapid development of China’s economy in recent years,more and more Chinese enterprises are doing cross-border M&A to acquire internationa factors and expand global market,and has becoming a new generation of force in the cross-border M&A market.However,behind the temptation is a huge risk,due to the failure of the integration after the merger,thus many enterprises are unable to complete the intended target.Consequently,this requires an in-depth analysis of the determinants of cross-border M&As,in order to be better informde on how to improve organisation performance and realize the value adde.It is not only the question which the enterprises "going out" care deeply about,but the academic hotspot which researchers in M&A area try to explored and resolve.In this paper,we have systematically reviewed the relevant literature on entrepreneurial orientation,synergetic integration capability,and enterprise performance,on which we build a research model and put forward theoretical assumptions,then use SPSS21.0 to carry out empirical research.Through six months’ investigation,we interview many managers from the company of Cross-border M&A,and collect many digitals.We selected 174 members to test the hypotheses.This paper studies the relationship between the entrepreneurial orientation and the enterprise performance,and verifies the effect of synergetic integration capability as the intermediary role.Supported by theoretical basis,we set up the research model and put forward research hypotheses.The main conclusions are:(1)Innovative and advanced mobility has a significant positive effect on enterprise performance;and risk tolerance has no significant effect on enterprise performance.(2)advanced mobility and risk tolerance has a significant positive effect on vision building,and innovative has no significant effect on vision building;innovative and risk tolerance has a significant positive effect on resource integration;all three dimensions of entrepreneurial orientation has a significant positive effect on complementary development and win-win cooperation.(3)Vision building has partly mediated the relationship between all three dimensions of entrepreneurial orientation and enterprise performance.There are partly mediating role of resource integration in the relationship between all three dimensions of entrepreneurial orientation to enterprise performance.Complementary development has partly mediated the relationship between all three dimensions of entrepreneurial orientation and enterprise performance.Win-win cooperation has partly mediated the relationship between all three dimensions of entrepreneurial orientation and enterprise performance.Based on the above research conclusions,the following suggestions are put forward: Choosing a positive entrepreneurial orientation,continue to strengthen innovation,and risk commitment to the entrepreneurial awareness,to promote enterprises to seize market opportunities,then carry out international cooperation to enhance corporate performance;Pay attention to the process of synergetic integration,and improve synergetic integration capability;Through communcation and coordination,resource integration,complementary cooperation to achieve synergistic effect,so as to implement the purpose of improving the performance of enterprises. |
