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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

Risks associated with mergers and acquisitions in business : a Chinese perspective

Yang, Ping Ping January 2012 (has links)
Thesis (DTech (Informatics))--Cape Peninsula University of Technology, 2012. / The rapid growth of Chinese cross-border mergers and acquisitions have attracted global attention to Chinese businesses. As new mechanisms of Chinese expansion in the international business arena, cross-border mergers and acquisitions have necessitated indepth academic studies of the risks associated with these activities from a Chinese business context. The influence of the Chinese government's domination of Chinese business is not only presented as different merger and acquisition tactics, but also as styles of operation and management in the process of integration. In cooperating with different counterparts, the shareholders of both acquiring and acquired companies are seeking solutions to related structural and operational changes. This relies on an effective risk management system to achieve a successful synergistic alliance for value creation. In this research study a conceptual framework was developed to identify risks associated with cross-border mergers and acquisitions. The framework aims at identifying risks at threes levels, namely country, business and management. Risks at business and management level are the result of risks at country level, while risks at country level reflect risks at business and management levels. Therefore, risks identified in Chinese inbound mergers and acquisitions will be valuable risk parameters to Chinese outbound mergers and acquisitions. Cooperation during integration is pivotal to successful mergers and acquisitions. Operational and managerial styles of Chinese businesses are profoundly affected by factors such as the Chinese government's role in business, economic policies, laws and regulations, culture, and so forth. This research identifies risks associated with Chinese post- inbound mergers and acquisitions that are impacted upon by Chinese government domination, from a Chinese business perspective. In approaching this objective, this research studied 34 Chinese inbound mergers and acquisitions using a multiple case study method. The research adopted methodological triangulation for collecting evidence, and aimed at using in-depth case analyses to identify risk factors to add academic value to the field of study. As a result, the research findings strongly indicate that the Chinese government's domination has an extensive and intensive impact on risks associated with Chinese businesses in cross-border cooperation. These identified risks include business strategies and operation, policy implementation, legal compliance, and management performance. Consequently, risks associated with Chinese inbound mergers and acquisitions will mirror the risks of Chinese outbound activities. The research results contribute to the practical application for managing risks associated with both Chinese inbound and outbound mergers and acquisitions. As a solution, mitigation of risks is recommended in the process of both pre- and post- mergers and acquisitions. The research provides valuable insights for both risk management and practitioners in mergers and acquisitions, and facilitates the achievement of process synergy.

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