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Author: Hannes Mungenast
Publisher: GRIN Verlag
ISBN: 3638674053
Category : Social Science
Languages : en
Pages : 64
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Book Description
Seminar paper from the year 2007 in the subject South Asian Studies, South-Eastern Asian Studies, grade: 87, Dongbei University of Finance and Economics (School of International Business), course: Chinese Financial System, 31 entries in the bibliography, language: English, abstract: China is a fast growing economy. Therefore a lot of companies intend to enter this market. Mergers & Acquisitions (M&A) are a useful tool to do so. First of all, it is important to understand the key principles of M&A. Therefore chapter 2 gives a summary of the most important aspects of mergers and acquisitions in general. Chapter 3 gives an introduction to the Chinese M&A market. It will deal with statistics concerning inbound and outbound deals, FDI and an overview of M&A advisory and investment banks. Chapter 4 will focus on the current situation of M&A activity and foreign direct investment (FDI) in China. FDI is another method for entering a market and is a competing tool to M&A. It will also present some examples of M&A where Chinese companies were involved. Chapter 5 deals with the importance of the stock market for M&A activity. After that, the most important aspects of M&A activities in the Chinese financial industry will be shown. First, an overview of the banking industry in China will be presented and the problems will be shown. After presenting the reasons for foreign companies to enter the Chinese financial market, the M&A activities in that sector will be shown and evaluated.
Author: Hannes Mungenast
Publisher: GRIN Verlag
ISBN: 3638674053
Category : Social Science
Languages : en
Pages : 64
Get Book Here
Book Description
Seminar paper from the year 2007 in the subject South Asian Studies, South-Eastern Asian Studies, grade: 87, Dongbei University of Finance and Economics (School of International Business), course: Chinese Financial System, 31 entries in the bibliography, language: English, abstract: China is a fast growing economy. Therefore a lot of companies intend to enter this market. Mergers & Acquisitions (M&A) are a useful tool to do so. First of all, it is important to understand the key principles of M&A. Therefore chapter 2 gives a summary of the most important aspects of mergers and acquisitions in general. Chapter 3 gives an introduction to the Chinese M&A market. It will deal with statistics concerning inbound and outbound deals, FDI and an overview of M&A advisory and investment banks. Chapter 4 will focus on the current situation of M&A activity and foreign direct investment (FDI) in China. FDI is another method for entering a market and is a competing tool to M&A. It will also present some examples of M&A where Chinese companies were involved. Chapter 5 deals with the importance of the stock market for M&A activity. After that, the most important aspects of M&A activities in the Chinese financial industry will be shown. First, an overview of the banking industry in China will be presented and the problems will be shown. After presenting the reasons for foreign companies to enter the Chinese financial market, the M&A activities in that sector will be shown and evaluated.
Author: Hannes Mungenast
Publisher: GRIN Verlag
ISBN: 3638624609
Category : Social Science
Languages : en
Pages : 31
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Book Description
Seminar paper from the year 2007 in the subject South Asian Studies, South-Eastern Asian Studies, grade: 87, Dongbei University of Finance and Economics (School of International Business), course: Chinese Financial System, language: English, abstract: China is a fast growing economy. Therefore a lot of companies intend to enter this market. Mergers & Acquisitions (M&A) are a useful tool to do so. First of all, it is important to understand the key principles of M&A. Therefore chapter 2 gives a summary of the most important aspects of mergers and acquisitions in general. Chapter 3 gives an introduction to the Chinese M&A market. It will deal with statistics concerning inbound and outbound deals, FDI and an overview of M&A advisory and investment banks. Chapter 4 will focus on the current situation of M&A activity and foreign direct investment (FDI) in China. FDI is another method for entering a market and is a competing tool to M&A. It will also present some examples of M&A where Chinese companies were involved. Chapter 5 deals with the importance of the stock market for M&A activity. After that, the most important aspects of M&A activities in the Chinese financial industry will be shown. First, an overview of the banking industry in China will be presented and the problems will be shown. After presenting the reasons for foreign companies to enter the Chinese financial market, the M&A activities in that sector will be shown and evaluated.
Author: Cristiano Rizzi
Publisher: Kluwer Law International B.V.
ISBN: 9041142134
Category : Law
Languages : en
Pages : 288
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Book Description
This hugely informative book - unique in its overarching emphasis on the laws governing M&As and takeovers in China - not only shows those interested in investing in China how to avoid legal mistakes and miscalculations. In addition to offering singular interpretive analysis of strictly legal matters, the authors concentrate extensively on the all-important cultural and environmental factors that can make business in China daunting for the uninitiated. Extending this double emphasis on cultural understanding and M&A and takeover expertise, the authors clearly explain such elements of how to enter the Chinese market (or expand a presence in it) as the following: concepts of guanxi and mienzi; understanding China’s rising middle class; valuation of state-owned assets; maximum permitted debt-to-equity ratios; key PRC government agencies involved in the approval of transactions; taxation framework for enterprise restructuring in China; employees as an asset; share swaps; prohibited trading activities when acquiring a listed company; legal framework for dispute resolution; administrative proceedings; liabilities for breach of contract; and responding to intellectual property rights abuse. The authors provide precise details on the characteristics of, and procedures involved in, the wide range of investment options available in China, with knowledgeable guidance on the choice of investment options and protection of investor interests. Because China is clearly a major global economic force and will continue to be so in the foreseeable future, this thorough but down-to earth guide is of immeasurable practical value to foreign investors of every kind, from multinational corporations to individual venture capitalists.
Author: Xiaojian Ren
Publisher:
ISBN:
Category :
Languages : en
Pages : 241
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Book Description
Since the 1990s, the mergers and acquisitions (M&A) of commercial banks have been at a climax throughout the world, and the mode of M&A has been accepted by western countries, bringing new opportunities for the development of the banking industry. In a majority of the countries of the world, the banking industry is involved in a wave of economic M&A. Developed countries, such as the United States and those in Europe, have made significant gains through mergers and reorganizations of commercial banks, whetting the appetite of many developing countries' commercial banks to become involved in such activities.In the 21st century, through the development of the world economy and the bank and its special position in this economy, its development model has attracted significant attention. Banks will struggle to maintain their profits as the global economy slows and credit risks increase. China's interest rate liberalization is a major challenge that commercial banks are faced with, including the arduous task of smoothly adapting to the change. The banking industry contains countless bodies, and the business scope is homogenized. Moreover, fierce market competition constantly increases the management pressure in the banking industry. M&A activities have become the strategic choice of many banks. With the widening and deepening of the opening-up and competition degree of China's financial market, domestic banks are continuously penetrated by foreign capital and are facing great challenges, and the inherent desire of M&A is constantly presented. Compared with European and American commercial banks, the commercial banks in China are in a special situation: weak market competition, too much government intervention, more M&A aimed at preventing regional financial risks, and fewer M&A cases due to the requirements and motivations of commercial banks in the M&A activities. The growth mode of commercial banks includes an endogenous growth model of self-accumulation and a leapfrog growth mode of equity acquisition. Until now, western commercial banks have experienced five waves of M&A activity. The development and expansion of internationally active banks are usually inseparable from equity M&A. M&A activities have become important to international commercial banks seeking to realize leapfrog growth. After reforming, listing, and expanding its capital strength, China's commercial banking industry is actively attempting to realize leapfrog growth through equity M&A. These banks are also gradually transitioning from an endogenous growth mode relying on internal accumulation to a growth mode valuing both endogenous growth and leapfrog development through and external M&A activities. This paper summarizes the rules of the development and expansion of foreign commercial banks through strategic M&A activity by using a systematic analysis of the five waves of international commercial banks' M&A activity. This paper then puts forward the strategies of China's commercial banks as related to strategic M&A activities. Taking the acquisition of Shenzhen Development Bank (hereinafter referred to as SDB) by Ping An Insurance (Group) Company of China (hereinafter referred to as "Ping An Group" or "Ping An") as an example, this paper summarizes the background, motivation and process of the M&A of both parties, and focuses on the analysis of synergies after the M&A. Through analysis, this paper finds that all indicators of the two companies have obvious synergies, and Ping An Group, the leading party, has been significantly improved in terms of operation, finance, corporate culture and management after merger and reorganization. To study the efficiency of M&A, this paper takes M&A of Wing Lung Bank by China Merchants Bank's as a case, and draws a conclusion and summarizes the suggestions of Chinese banks to improve the efficiency of merger and acquisition through empirical analysis, case study and other methods. Based on Ping An Group's acquisition of SDB, this paper puts forward recommendations for the merger activity undertaken by China's commercial banks at the end of the paper. These recommendations consider future M&A trends in China's banking industry, the strategic choice related to future M&A activities, and the role of the government in mergers and reorganizations, particularly related to relevant policy formulations, regulatory coordination, the role that control plays, and so on. The objective of this paper is twofold. First, this paper analyzes the current competitive pattern of China's commercial banking industry and at the same time studies the development process and M&A history of the American and overseas banking industry to demonstrate the M&A opportunities in China's commercial banking industry. Second, this paper uses a case study to discuss the M&A strategy, synergistic effects, and M&A efficiency of Chinese commercial banks. Key Words: M&A strategy, Synergistic effect, M&A performance.
Author: Olivier Coispeau
Publisher: World Scientific
ISBN: 9814641049
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
Mergers & Acquisitions and Partnerships in China provides a fast and accessible framework to external growth in China, and is an attempt to accurately describe the main operative conditions and in particular the most common pitfalls for foreign businessmen. The business cases in this book illustrate real business situations, including different outcomes and a thorough analysis of the reasons for success or failure of the case. The authors provide all the necessary tools to better master the negotiation and transaction process, and provide in particular, detailed explanation on the due diligence process and the regulatory framework to help readers successfully lead acquisitions in China. Written by well-known experts in finance, law, and management, who all have deep business knowledge of China, the book aims to help practitioners, such as law firms, audit and advisory firms, and entrepreneurs to start or grow their businesses in China through successful partnerships, and acquisitions and mergers by explaining how these aspects are regulated by a complex web of laws, regulatory, and political practices in a context where the state plays a key role in the approval of important transactions.
Author:
Publisher:
ISBN: 9780852588666
Category : Consolidation and merger of corporations
Languages : en
Pages :
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Book Description
Author: Ding Ding
Publisher: International Monetary Fund
ISBN: 1513573349
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
Over the last decade China’s investment in Latin America and the Caribbean (LAC) has increased substantially in volume and become more diversified from natural resources to other industries. Using cross-border mergers and acquisitions data, we demonstrate that since mid-2010s China’s overseas investment has tilted toward sectors where China has a comparative advantage in the global markets, a trend similar to that of other major foreign direct investment (FDI) source countries. Moreover, China’s rising overseas investment can be linked to the rebalancing of Chinese economy, and LAC stands to benefit from its complementarity vis-à-vis China in sectors where the rising Chinese overseas investment can be met with LAC’s own investment gaps. The COVID-19 pandemic could have a long-lasting impact on global value chains and FDI flows, which poses both challenges and opportunities to LAC in attracting FDI, including from China, to support the region’s long-run economic development.
Author: Daniele D'Alvia
Publisher: Routledge
ISBN: 1000507912
Category : Business & Economics
Languages : en
Pages : 253
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Book Description
This is a much-needed work in the financial literature, and it is the first book ever to analyse the use of Special Purpose Acquisition Companies (SPACs) from a theoretical and practical perspective. By the end of 2020, more than 240 SPACs were listed in the US (on NASDAQ or the NYSE), raising a record $83 billion. The SPAC craze has been shaking the US for months, mainly because of its simplicity: a bunch of investors decides to buy shares at a fixed price in a company that initially has no assets. In this way, a SPAC, also known as a "blank check company", is created as an empty shell with lots of money to spend on a corporate shopping spree. Could the trend be here to stay? Are SPACs the new legitimate path to traditional IPO? This book tackles those questions and more. The author provides a thorough analysis of SPACs including their legal framework and how they are used as a risk mitigation tool to structure transactions. The main objectives of the book are focused on finding a working definition for SPACs and theorising on their origins, definition, and evolution; identifying the objectives of financial regulation within the context of the recent financial crisis (2007–2010) and the one that is currently unfolding (Covid-19); and also describing practical examples of SPACs through a comparative study that, for the first time, outlines every major capital market on which SPACs are listed, in order to identify a possible international standard of regulation. The book is relevant to academics as well as policymakers, international financial regulators, corporate finance lawyers as well as to the financial industry tout court.
Author: Franklin Allen
Publisher:
ISBN: 9781680830606
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
Provides a review of China's financial system and compares it to other financial systems. It reviews what has worked and what has not within the markets and intermediaries in China, the effects of the recent development of China's financial system on the economy, and a non-standard financial sector operating beyond the markets and banking sectors.
Author: Scott C. Whitaker
Publisher: John Wiley & Sons
ISBN: 1119042232
Category : Business & Economics
Languages : en
Pages : 469
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Book Description
Navigate cross border M&A for a flawless integration execution Cross Border Mergers and Acquisitions is a practical toolbox for corporate strategy and development professionals dealing with the many challenges involved in cross border M&A. With a detailed discussion of key market specifics and broadly-applicable critical insight, this book demystifies the cross border M&A process and provides a host of practical tools that ease strategic implementation. A geographical overview explains the trends in major M&A markets including Australia, Brazil, China, Russia, the U.K., and the U.S., and industry-specific guidance covers Financial Services, Aerospace and Defense, Health Care, Tech, Manufacturing, and more. Leading experts relate lessons learned while managing actual PMI (post merger integration) processes, and the discussion of cultural impacts and specific situational needs provides deep insight into the type of leadership a flawless integration requires. Corporate restructuring and internationalization efforts are increasingly relying on cross border mergers and acquisitions. Strategies, motives, and consequences are a complex navigational minefield, but this insightful guide provides solid, actionable guidance for leading a successful integration. Understand the region-specific details that make an impact Overcome common challenges and manage complex deals Gain practical insight and valuable tools for leading integration Learn the most current best practices for PMI® processes Cross border M&A is complex, with myriad challenges and obstacles inherent to the situation. Successful integration and a smooth transition are critical, and there's little wiggle room—it's a situation where you have only one chance to get it right. Cross Border Mergers and Acquisitions is an essential guide to the process, with key tools for execution.
