Research On The Motivation And Performance Evaluation Of Cross-border M & A In Semiconductor Industry

The semiconductor industry plays a vital role in national economic construction,sustainable socio-economic development and national security center.It is the main driving force of a country's economic development.At present,China's demand for the semiconductor industry is in a peak period,and relevant industries are also developing rapidly.However,compared with the needs of the market,China's semiconductor industry has many problems,such as weak innovation and insufficient competitiveness.Many semiconductors still need to be purchased from abroad.At the same time,in order to go to the international and overseas markets,obtain more high-quality resources and ensure that they also have a "place" in the international market,domestic semiconductor enterprises began a series of operations in the transnational market and boldly stepped out of the pace of going to the international market,and they all used the means of cross-border M & A.In the international semiconductor industry,M & A is becoming popular.Many enterprises have obtained many excellent international technologies and better resources through M & A.they have also formed a strong international industrial alliance.M & A provides a strong "source power" to help the semiconductor industry develop,expand and realize the integration of the industrial chain.In China,the importance of the semiconductor industry is becoming increasingly apparent.In order to support the development of the semiconductor industry and promote the expansion and development of enterprises in the semiconductor industry,the state has issued many policies,such as the outline for promoting the development of the national integrated circuit industry and established corresponding investment fund organizations,which promoted the influx of social capital into the integrated circuit industry.Under such conditions,our country's semiconductor industry enterprises have also lived up to their mission,constantly explorers in the international market,acquired a series of excellent semiconductor enterprises,and obtained many excellent experience and technology.Domestic semiconductor enterprises have also gradually developed and expanded,and have a certain competitiveness in the world,The domestic semiconductor industry has also made great progress.This paper mainly studies the cross-border M & A of China's semiconductor enterprises in the following parts: first,consult a series of relevant literature at home and abroad;Secondly,based on the investigation,analysis and Research on the development of domestic semiconductor industry,this paper sorts out the relevant data of international cross-border M & A of Chinese semiconductor enterprises from the aspects of M & A subjects and regional distribution.From the analysis of some recent M & A events,it can be concluded that semiconductor enterprises generally carry out M & A for these two reasons: first,in order to improve the technical level of their own enterprises,so as to carry out cross-border M & A;Second,through the use of scale effect,effectively save the cost required for production and increase the scope of enterprise business.Taking the M & A of ad company as a case,after using a variety of analysis methods to study the M & a performance of ad company,it is found that the performance of ad company has been significantly improved in a short time after the M & A,but the long-term performance has decreased in contrast,and further integration effect is needed.Finally,based on the relevant conclusions of the full text,this paper aims to put forward valuable suggestions for the smooth progress of cross-border M & A activities of China's semiconductor enterprises.