Research On Risk Identification And Prevention Of Overseas M&A Of Digital Economy Enterprises

In order to promote the scientific transformation of old and new kinetic energy and deepen supply-side reforms,Chairman Xi Jinping emphasized at the 19 th National Congress of the Communist Party of China "implementing the national big data strategy and building a digital economy with data as a key element." Under this background,my country's digital economy has developed rapidly.In 2018,the scale of my country's digital economy has reached 31.3 trillion yuan,accounting for 34.8% of GDP.In the current era of global digital economy development,my country's digital economy enterprises regard overseas mergers and acquisitions as an important way to expand the international market and obtain cutting-edge digital technologies.However,due to various complicated objective and subjective factors,the overseas mergers and acquisitions activities of my country's digital economy enterprises face many obstacles,and even end in cruel failure.In view of this,it is essential to fully identify and effectively prevent the risk points of digital economy companies in overseas mergers and acquisitions.First of all,the author uses the literature analysis method to organize and summarize the relevant data of domestic and foreign economists' discussion on the risk points of overseas mergers and acquisitions of digital economy enterprises and various potential risk prevention studies,and finds that most of the existing studies use quantitative analysis methods.Establish mathematical models to study the possible risk points and degree of risk,and rarely discuss the risk prevention of overseas mergers and acquisitions with real cases of digital economy companies in practice,and lack practical guidance and application.Therefore,this article selects the specific case of overseas mergers and acquisitions of digital economy enterprises as the main research,and uses qualitative analysis to analyze the risk identification and risk prevention of digital economy enterprises in overseas mergers and acquisitions.Secondly,this article uses the method of theoretical analysis to systematically summarize the relevant theoretical foundations of risk identification and risk prevention in overseas mergers and acquisitions of digital economy companies,including technological innovation theory,endogenous growth theory,risk segmentation recognition theory,environmental analysis theory,and enterprises Risk management theory and dynamic risk control theory.In addition,this paper also analyzes the current status,characteristics,risk identification system and risk prevention measures of my country's digital economy enterprises' overseas M & A risks.Specifically,my country's digital economy companies increasingly choose overseas mergers and acquisitions to acquire foreign core digital technology,but in this process,many unpredictable merger and acquisition risks are flooded.The characteristics of overseas mergers and acquisitions risks of digital economy enterprises are mainly reflected in three aspects,namely,prominent technical risks and more difficult to prevent,high data security risks and high management costs,and data transactions face legal risks and moral constraints.The risk identification of overseas mergers and acquisitions of digital economy companies is mainly reflected in macro-level risks and micro-level risks.Under this macro-micro risk identification system,corresponding risk prevention measures are made.Furthermore,this article uses a case analysis method,focusing on the specific analysis of the typical case of Tencent's merger and acquisition of Supercell.On the basis of a brief combing of the process and results of this merger and acquisition case,on the one hand,this case is analyzed At the micro-level M & A risk,establish a risk identification framework to mine and analyze possible risk points.The macro-level M & A risks mainly include political risks,legal risks and investment environment risks.The micro-level M & A risks mainly include strategic risks,M & A project execution risks and integration risks.On the other hand,we established a systematic risk prevention system for possible risk points,and summarized the preventive measures and countermeasures that Tencent made when dealing with risks in this overseas M & A.Finally,it summarizes Tencent's success in this overseas M & A case,and draws useful inspirations for digital economy companies to scientifically and efficiently prevent various risks in overseas M & A,and to identify and prevent China's digital economy companies in their overseas M & A Risks at the macro and micro levels provide positive guidance.The success of digital economy companies in overseas mergers and acquisitions depends on many comprehensive factors,but the security of data resources,the difficulty of accurate valuation of digital technology,the lack of unified and standardized operational procedures for data transactions,the difficulty of confirming data rights,and the The problem of technology integration is a key factor hindering the success of digital economy companies' overseas mergers and acquisitions.And risk identification,scientific evaluation and active prevention in the M & A decision-making stage,M & A implementation stage and post-M & A integration stage can greatly improve the success rate of overseas mergers and acquisitions of digital economy enterprises.