For the first time, this paper introduces Petri net theory to the domain of enterprise strategy management, puts forword a new way by using Petri net to analyse and describe the formulating process of enterprise merge...For the first time, this paper introduces Petri net theory to the domain of enterprise strategy management, puts forword a new way by using Petri net to analyse and describe the formulating process of enterprise merger and acquisition strategies, provides a clear and simple tool for supporting the management bureau of enterprise to make its merger and acquisition strategies.展开更多
Enterprise merger and acquisition is one of the property right exchanges. This paper researches the strategy of pricing for enterprise merger and acquisition, displays finance decision-making model, program and method.
Enterprise mergers and acquisitions(M&A)are vital strategies for companies worldwide to expand markets,enhance competitiveness,and achieve strategic goals.The Chinese government’s strong support for the new energ...Enterprise mergers and acquisitions(M&A)are vital strategies for companies worldwide to expand markets,enhance competitiveness,and achieve strategic goals.The Chinese government’s strong support for the new energy industry has created a favorable policy environment for the development of the lithium battery sector.Against this backdrop,Tianqi Lithium Corp’s acquisition of Sociedad Química y Minera(SQM)in Chile has garnered widespread attention.This paper takes Tianqi Lithium Corp’s acquisition of SQM as the research subject,conducting a detailed analysis of the motives behind the M&A.Subsequently,financial indicators are employed to conduct a performance analysis from a financial perspective,examining the impact of the M&A.Finally,based on the findings of the case analysis,relevant suggestions are proposed to offer a reference for the development of enterprise mergers and acquisitions.展开更多
Mergers and acquisitions(M&A) are important parts of banking reform, which can increase the synergies and reduce the costs of the banks. To analyze the effect and importance of the M&A in the reform period, we...Mergers and acquisitions(M&A) are important parts of banking reform, which can increase the synergies and reduce the costs of the banks. To analyze the effect and importance of the M&A in the reform period, we measure the productivity change of China’s banks who completed M&A during 2004–2018, by using a two-stage data envelopment analysis(DEA) method. First, we incorporate the process of deposits producing and the process of profit earning as a two-stage structure of bank’s system. Then,we construct a slacks-based measure(SBM) model considering the weak disposability of undesirable outputs to measure the productivity of 14 M&A banks in China. Particularly, we adopt the global Malmquist index(GMI) to evaluate the productivity change of the banks, and analyze the efficiency change(EC) and technical change(TC) for the whole system and individual stages. Additionally, to facilitate making M&A plans, we classify the M&A banks to obtain the process they need to improve and the trend they could adopted:(i) We classify them into four categories by the productivity of two individual stages;(ii) We also classify them into four categories by EC and TC. Finally, the policy recommendations for M&A banks are given.展开更多
China had been increasing outbound investments before the global financial crisis as result of seeking a stable supply chain, stable market and advanced technology. The global financial crisis did not reduce Chinese e...China had been increasing outbound investments before the global financial crisis as result of seeking a stable supply chain, stable market and advanced technology. The global financial crisis did not reduce Chinese enterprises' driving force of outbound investment but provides more opportunities. Chinese enterprises may also face more traps in outbound investments. However, they can avoid failure by choosing objects prudently.展开更多
The decrease in business activity and the fall in the production volume in the sectors of economy relying on long-term crediting is characteristic feature of the modern recessions. The pessimistic expectations of entr...The decrease in business activity and the fall in the production volume in the sectors of economy relying on long-term crediting is characteristic feature of the modern recessions. The pessimistic expectations of entrepreneurs concerning product demand leads to falling direct investment into business despite unlimited investment opportunities due to the developed capital markets nowadays. As a result it has created the opportunity for the development of such business restructuring types as mergers and acquisitions. Potential investors are different and their investment motivation is different, but the goal is the same--to increase the value of the business and its efficiency as a result of mergers and acquisitions. Utilizing borrowed capital for acquisitions of enterprises has many advantages. However, purchasable enterprises are exposed to several financial risk factors.展开更多
基金national Natural science Fundation of China. No.79570040
文摘For the first time, this paper introduces Petri net theory to the domain of enterprise strategy management, puts forword a new way by using Petri net to analyse and describe the formulating process of enterprise merger and acquisition strategies, provides a clear and simple tool for supporting the management bureau of enterprise to make its merger and acquisition strategies.
文摘Enterprise merger and acquisition is one of the property right exchanges. This paper researches the strategy of pricing for enterprise merger and acquisition, displays finance decision-making model, program and method.
文摘Enterprise mergers and acquisitions(M&A)are vital strategies for companies worldwide to expand markets,enhance competitiveness,and achieve strategic goals.The Chinese government’s strong support for the new energy industry has created a favorable policy environment for the development of the lithium battery sector.Against this backdrop,Tianqi Lithium Corp’s acquisition of Sociedad Química y Minera(SQM)in Chile has garnered widespread attention.This paper takes Tianqi Lithium Corp’s acquisition of SQM as the research subject,conducting a detailed analysis of the motives behind the M&A.Subsequently,financial indicators are employed to conduct a performance analysis from a financial perspective,examining the impact of the M&A.Finally,based on the findings of the case analysis,relevant suggestions are proposed to offer a reference for the development of enterprise mergers and acquisitions.
基金Supported by National Natural Science Foundation of China (71871223, 72171238, 71991465)Natural Science Foundation of Hunan Province (2021JJ20072)。
文摘Mergers and acquisitions(M&A) are important parts of banking reform, which can increase the synergies and reduce the costs of the banks. To analyze the effect and importance of the M&A in the reform period, we measure the productivity change of China’s banks who completed M&A during 2004–2018, by using a two-stage data envelopment analysis(DEA) method. First, we incorporate the process of deposits producing and the process of profit earning as a two-stage structure of bank’s system. Then,we construct a slacks-based measure(SBM) model considering the weak disposability of undesirable outputs to measure the productivity of 14 M&A banks in China. Particularly, we adopt the global Malmquist index(GMI) to evaluate the productivity change of the banks, and analyze the efficiency change(EC) and technical change(TC) for the whole system and individual stages. Additionally, to facilitate making M&A plans, we classify the M&A banks to obtain the process they need to improve and the trend they could adopted:(i) We classify them into four categories by the productivity of two individual stages;(ii) We also classify them into four categories by EC and TC. Finally, the policy recommendations for M&A banks are given.
文摘China had been increasing outbound investments before the global financial crisis as result of seeking a stable supply chain, stable market and advanced technology. The global financial crisis did not reduce Chinese enterprises' driving force of outbound investment but provides more opportunities. Chinese enterprises may also face more traps in outbound investments. However, they can avoid failure by choosing objects prudently.
文摘The decrease in business activity and the fall in the production volume in the sectors of economy relying on long-term crediting is characteristic feature of the modern recessions. The pessimistic expectations of entrepreneurs concerning product demand leads to falling direct investment into business despite unlimited investment opportunities due to the developed capital markets nowadays. As a result it has created the opportunity for the development of such business restructuring types as mergers and acquisitions. Potential investors are different and their investment motivation is different, but the goal is the same--to increase the value of the business and its efficiency as a result of mergers and acquisitions. Utilizing borrowed capital for acquisitions of enterprises has many advantages. However, purchasable enterprises are exposed to several financial risk factors.
