The Influence Of Enterprise Types On Financing Methods Of Cross-Border M&A

With the development in full swing of cross-border M&A on a global scale,the overseas M&A deals of Chinese corporations have also achieved a leap forward development.Most cross-border mergers and acquisitions require large amounts of financing,and success depends largely on the availability of liquidity,reasonable investment risks,and scientific financing structures.Making good use of financing strategy right could make a difference to the smooth cross-border acquisition.This paper traces research results of the worldwide academic for financing mergers and acquisitions,cross-border mergers and acquisitions financing and different kinds of enterprise financing way,basic it is found that abroad empirical research,and with the domestic similar to empirical research,the influence degree of the factors or to some influence factors in one or two classification for data analysis of evidence;However,domestic case studies are either single cases or rough comparison,lacking theoretical and verification analysis on the influencing mechanism.Therefore,the research on financing methods of overseas M&A deals in China still needs to be extended.Therefore,combined with the actual conditions of companies,further research on the financing strategies of Cross-border mergers and acquisitions of Chinese enterprises and the influence mechanism of company types on financing methods of cross-border mergers and acquisitions will play a guiding role in the development of Chinese enterprises in the wave of overseas acquisitions.In this paper,based on the classical finance theory at domestic and overseas,combined with the application of different financing way in cross-border mergers,starting from the case of Nexperia semiconductor Wen Tai technology M&A,analyzes its financing choice,business structure,financing tools,the use of lead to analyze different aspects of enterprise type classification for the influence of the corporation financing way,and from the theoretical basis and the comparative analysis of different cases to analyze the influence mechanism.From the organizational form,nature,whether listed or not,enterprise scale of the four levels of analysis found that group enterprises can take advantage of the inward financial market and subsidiary financing platform to obtain a wider range of capital sources;State-owned enterprises often have financing advantages in bank credit;Listed companies have more equity and mixed financing channels.Enterprises at different scales and stages of development face different financing constraints.In general,enterprises of different types ought to select equity trading ways on account of their own advantages when making financing plans for cross-border M&A.It is expected to provide direction for cross-border merger financing of Chinese enterprises through this more rigorous research on classification and financing mechanism.