Back Issues 11-20
HOW COULD CHINESE COMPANIES APPLY MERGERS & ACQUISITIONS TO S-M ENTERPRISES FOR SELF-INNOVATION
HOW COULD CHINESE COMPANIES APPLY MERGERS & ACQUISITIONS TO S-M ENTERPRISES FOR SELF-INNOVATION
Chang Che-Chang
Huashang College, Guangdong University of Finance and Economics,
Guangzho, 511300, Guangdong
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Yanhui HE
Huashang College, Guangdong University of Finance and Economics,
Guangzho, 511300, Guangdong
Pan Si Mei
Huashang College, Guangdong University of Finance and Economics,
Guangzho, 511300, Guangdong
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Abstract
The Eighteenth National Congress of the People's Republic of China advocates independent innovation of enterprises and encourages enterprises to invest in R & D. Small and medium-sized enterprises, which account for 70% of Chinese enterprises, still face difficulties in independent innovation: lack of innovative talent, lack of innovative resources, backwardness of exiting technologies, and so on. Research shows the main purposes of international mergers and acquisitions by Chinese companies are: entering new markets (61%), acquiring new technologies (58%), expanding the size of enterprises (54%), and reducing operating costs (40 %). Innovation has thus become an important motivation for mergers and acquisitions. This research uses case study and make proposals: from equity acquisition to talent introduction, using technology acquisition as the gradual development stage of transnational mergers and acquisitions. The hope is those enterprises could effectively integrate without compromising technological innovation. Besides, using imported technology to create sustainable core competitiveness can achieve the ultimate goal of innovation independence through international mergers and acquisitions.
Keywords: Merger & Acquisition, Innovation, Core competitiveness
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