Internationalization Strategy And Overseas Mergers And Acquisitions

With the integration of the global economy,internationalization has become a trend of corporate external development.China is a rapidly emerging economy.Under the call of the country to cultivate world-class enterprises,the sparks of Chinese enterprises have ignited in the global economic world.According to the National Bureau of Statistics,the net increase of China's foreign direct investment in 2016 was 196.149 billion US dollars.This data has declined in 2017 as the number of overseas mergers and acquisitions decreased,but still reached 158.288 billion US dollars,which shows China's internationalization has entered a new phase.Today,“fast” is a fashion,when developing internationalization strategies,Chinese companies no longer follow traditional gradual routines,but directly implement overseas M&A strategies based on their own advantages.Overseas mergers and acquisitions enable companies to quickly enter the international market to seize opportunities,acquire readily available resources and advanced technologies,and enhance their influence on the international market.In this context,it is of theoretical and practical significance to study the strategic choices and implementation effects of Chinese companies' internationalization through overseas mergers and acquisitions.Based on the localization of Henan Province,this paper takes CMOC the largest listed company with the largest market capitalization as the research object,analyzes the inevitability of its internationalization strategy,how it formulates and implements the internationalization strategy.It implements the effects of internationalization strategies through overseas mergers and acquisitions,and summarizes the influencing factors of its overseas mergers and acquisitions success.This paper mainly uses the case study method,and combines the event research method in the analysis part.The main research conclusions are as follows:(1)CMOC implements the internationalization strategy,which is under the influence of special political and economic macro factors,according to its own development needs and resource advantages,grasping the path of international market opportunities;(2)The internationalization strategy adopted by enterprises adopting overseas mergers and acquisitions is in line with industry characteristics,the successful completion of overseas mergers and acquisitions,improving the international status of enterprises and increasing their international influence Force,the company has brought significant financial effects and certain business synergies,and achieved the scale effect of mergers and acquisitions;(3)the smooth implementation of overseas mergers and acquisitions has deepened the degree of internationalization of enterprises and achieved their international strategic goals.It has brought strategic benefits to the company and enabled the company to successfully complete rapid internationalization.(4)The main influencing factors for the successful implementation of CMOC Internationalization Strategy are its privatized equity nature.Privatized enterprises have acquired heterogeneous shareholder resources and can overcome the shortcomings of the relatively weak private enterprise.At the same time be fully decentralized,private controlling shareholders have higher decision-making efficiency,accurate grasp of market timing,and their international vision and experience.Through the rational use of intermediaries,the smooth implementation of overseas mergers and acquisitions has been promoted.This thesis enriches the theoretical research on the implementation path and effect of the existing internationalization strategy,and provides ideas and reference for how the inland provinces of Henan Province can achieve their international influence through overseas mergers and acquisitions.