Cross-border M & A had became a very important method of foreign direct investment for global multinational companies, and it is playing an increasingly important role to the growth of international production. Not only in developed countries but also in developing countries.For most of Chinese large-scale companies, Cross-border M&A had became a very attractive way to expend their business. Thus, Chinese cross-border M&A has developed rapidly. However, Different with the trend of global M&A market, the Chinese cross-border M&A prefer cash payment. Well then, How many payment forms are widely used in Chinese cross-border M&A? What are the determine factors of cash-payment preference in Chinese cross-border M&A? Does cash payment have the best operational performance in Chinese cross-border M&A? I will search answers for these three questions in this paper.In order to answer these three questions, first, I drew on the results of previous studies to classify the different available payment forms in Chinese cross-border M&A and detailed expound the characteristics and operate approaches of them. Then, Combined with my understanding of Chinese cross-border M&A, I summarized some possible factors which determined the preference in cash-payment for Chinese cross-border M&AAfter all of these done, I chose some important financial indexes as data in my empirical study to analyze the performance of different payment forms in applied of Chinese cross-border M&A. And tested if cash payment have the best operational performance in Chinese cross-border M&A.

<p>One of the most frequent things we do as consumers is make purchase. We pay for a coffee or for food, we pay for necessities around the house, we even pay for one another, buying drinks or dinner for a friend every now and then. In today’s marketplace, the decision of whether to purchase is also coupled with the decision of how to make a purchase. Consumers have so many different methods to pay for their transactions. Can the way a consumer chooses to pay change the likelihood that s/he make a purchase? And then post-purchase, can the payment method used to pay for a purchase influence how connected individuals feel to that product, brand, or organization? Given that we sometimes pay for others (and vice versa), can the way we pay influence our interpersonal relationships?</p><p>In what follows, I argue that the way individuals pay, and specifically the pain associated with making a payment, can have a pervasive effect on their decision to make a purchase and how they feel post-transaction. Across three essays, I focus on how the pain of paying can influence the likelihood to purchase an item from a consideration set (Essay 1) and subsequently, how the pain of paying can influence post-transaction connection to a product, organization, or even to other people (Essay 2 and 3). Across field, laboratory, online, and archival methods, I find robust evidence that increasing the pain of paying may initially deter individuals from choosing. However, post-transaction, increasing the pain of payment may have an upside: individuals feel closer and more committed to a product that they purchased, organization that they donated to, and feel greater connection and rapport to who they spent their money on. However, I also demonstrate the boundary conditions of these findings. When individuals are spending money on something that is undesirable, such as paying for a competitor, increasing the pain of payment decreases interpersonal connection and rapport.</p> / Dissertation