ABSTRACT
ABSTRACT
From the nineties of the 20th century, the average increment speed of cross-border
M&A is 30.2%, which exceeds FDI’s 15.1%. And world-widely, 80% of FDI is
accomplished by cross-border M&A. In China, total value of cross-border M&A in-
creased from less 50 billion dollars to over 400 billion dollars. But world-widely the
success ratio of cross-border M&A means 40%, however, China’s is less 10%. In fact,
just taking over a company doesn’t mean successful cross-border M&A. And maybe
there will be some kind of crisis. Because the company needs integrate all aspects of the
counterpart, otherwise cross-border M&A advantage can’t come out. The truth is the
failure of cross-culture integration mainly leads to unsuccessful cross-border M&A. So
it is necessary to research cross-culture integration of Chinese companies.
The dissertation gives the simple description of the definition and features of cross-
border M&A, then simply describes the culture, the enterprises culture, and the double
culture shock in cross-border M&A, which means the country culture shock, the
enterprise culture shock and the integration of the cross-culture, in third the dissertation
analyzes the two cases of Chinese enterprises’ cross-border M&A, and draws the
conception of the problems the enterprises encountered when they integrate the cross-
border cultures from the analysis of Chinese enterprise: Chinese country culture and
Chinese enterprise culture. At last, the dissertation gives the strategy and the way of
enterprise culture integration, which is suitable for Chinese enterprises from the
conclusion that gets from the above analysis and the general culture integration theories.
The innovation of the dissertation could be concluded as: first, according to the
analysis of culture, it pays attention to the special features of the culture, which means
the culture shock during the cross-border M&A is the double culture-shock—country
and enterprise culture shocks. As a socialism country, China has its own special China
socialism country culture, and the enterprise culture is the one reflects deeply the special
features of the country culture. Second, from the dialectical view, the culture diversity
not only could bring the culture-shock, but also could bring the culture-complementary.
During the whole process of cross-culture integration, Chinese enterprises should pay
more attention to the culture-complementary, and get the advantage of other cultures