Research On The Synergy Effect Of Cross-border Merger And Acquisition Of Chinese Household Appliance Enterprises

Considering the overall strength of M&A group,the scale of M&A and the impact of M&A events,this paper selects TCL Group to M&A Thomson and Alcatel,Haier Group M&A Sanyo Electric Power and General Electric Appliance.Midea Group M&A Kuka group and Toshiba group Electricity,as cases study of cross-border M&A of Chinese home appliance enterprises,to study the mechanism of synergy effect of cross-border M&A.The demonstration process is divided into two steps: financial data analysis and grounded theory analysis of M&A synergy effect.In the financial data analysis of M & A synergy,six indicators of management synergy,four indicators of management synergy and three indicators of financial synergy are selected.By using the data of two years before and after merger and acquisition,we can get the conclusion that whether there is synergy effect,what kind of synergy effect is there and to what extent.In the grounded theory analysis of M&A synergy,based on the conclusion of financial data analysis.This paper firstly carries out three steps: open coding,spindle coding and selective coding for TCL Group.The preliminary conclusion of the synergetic effect analysis of household appliance enterprises is obtained.And then the grounded theory supplementary analysis of other cases is carried out in turn,until the analysis is saturated,and the mechanism of achieving synergy incross-border mergers and acquisitions of Chinese household appliances enterprises is obtained.By combining quantitative analysis with qualitative analysis,this paper constructs the mechanism of synergy effect in cross-border mergers and acquisitions,and puts forward some suggestions for enterprises to realize management synergy,operating effect and financial synergy through cross-border mergers and acquisitions.In order to provide an analysis reference for the realization of synergy in cross-border mergers and acquisitions of Chinese household appliances enterprises.