A Case Study On The Performance Of Cross-border Mergers And Acquisitions Of Chinese Home Appliance Enterprises Based On The Theory Of Secondary Innovation

In recent years,more and more Chinese enterprises have begun to vigorously implement national strategies.They have participated in the international market with their own advantages,exploited their advantages and made up for their shortcomings in investment and competition,and introduced fresh forces while going overseas.Facing the growing market demand and complex competitive environment,as a developing country,many excellent local enterprises rely only on their own technology research and development to improve their competitiveness,and they intend to achieve the goal of narrowing the technological gap with international leading enterprises.not enough.Overcoming technical barriers through international leading companies in the cross-border M&A industry,and then developing their own "secondary innovation" has increasingly become the only way for Chinese companies to participate in international competition."Secondary innovation" refers to the fact that local enterprises in developing countries can further give local enterprises the advantages and opportunities to take advantage of technological integration and innovation by introducing the technologies of advanced enterprises in developed countries,and then integrating and re-innovating the imported technologies on this basis.Secondary innovation is a dynamic process of continuous acquisition of enterprise experience,continuous introduction of technology,and continuous innovation of capabilities.Based on the pursuit of "secondary innovation",enterprises seek their own rapid development through mergers and acquisitions,the most efficient way to strengthen their own strength.At present,many companies have not only improved their comprehensive competitiveness after successfully acquiring other companies,but are also able to seize more market resources.Haier Smart Home and Midea Group are both pioneer companies in my country’s home appliance industry,and have high influence and appeal in the industry.In recent years,these two companies have maintained their dominant positions in the domestic market through overseas mergers and acquisitions.And in this way,it quickly seized the international market.In these several mergers and acquisitions,the case of Haier’s acquisition of General Home Appliances not only has a large transaction scale,but also because of its large scale of mergers and acquisitions and its far-reaching follow-up influence.The mergers and acquisitions of home appliance companies provide a factual basis;at the same time,from the perspective of my country’s situation,in the machine manufacturing industry,high labor costs,high labor demand,and the market and consumers’ high requirements for product quality,these factors make the development of robots.The prospect has become broad,so Midea Group’s acquisition of Germany’s KUKA also provides a reference template for the development of my country’s home appliance enterprises in the follow-up related fields.By analyzing the application of secondary innovation theory in the overseas mergers and acquisitions of my country’s leading home appliance enterprises,we can further understand the advantages,achievements and future development directions of my country’s home appliance industry in cross-border mergers and acquisitions.To understand and grasp whether the rational,appropriate and large-scale continuous cross-border mergers and acquisitions of Chinese home appliance enterprises based on the second innovation theory can have a positive impact on the performance of the enterprises,and provide theoretical and factual basis for the subsequent cross-border mergers and acquisitions of home appliance enterprises.