On the Nature of Chinese Enterprises Overseas MA Risks Based on Cycle Period Analysis

摘要

The overseas mergers and acquisitions (M&As) of Chinese enterprises involve risks because of many uncertain factors. The overseas M&A risks are not individual but interact with each other as a whole. The process of overseas M&A risks of Chinese enterprises can be divided into the early stage, the middle stage and the late stage. It is worthy mentioning that the risks in the three stages are not completely independent. Many M&A risks cannot be separated from the whole system which always interact with each other and form an integrated part. Ignoring any part of the risks will cause other risks and further cause the failure of the whole M&As. Therefore, Chinese enterprises should fully consider the related risks from an overall perspective when dealing with M&As to avoid attending to one thing and losing the other.