A Study on the Financial Risks of Cross-border Mergers and Acquisitions and Its Prevention--Based on the Case of Ping An Takeover Fortis
In recent years cross-border mergers and acquisitions has gradually become the mainstream way of overseas investment of Chinese enterprise. However, with the growing of the scale of cross-border mergers and acquisitions and the area of investment, its operational risks are also increasing. This paper provides an overview of the events of Ping An takeover Fortis, as well as its follow-up. And then, the paper analyzes of the motivation of its acquisition, financial risk, and sums up the failure of its mergers and acquisitions lessons. Finally, this paper provide advice for Chinese companies how to guard against cross-border mergers and acquisitions in the financial risk, and for Chinese enterprises going out strategy.
Cross-border mergers and acquisitions Financial risks Ping An of China Information asymmetry Liquidity risk
LIU Zhonghua CHENG Run
School of Finance & Economics, Guangdong University of Foreign Studies, Guangzhou, China, 510420
国际会议
The 5th International Sympsium for Corporate Governance(第五届公司治理国际研讨会)
天津
英文
1172-1179
2009-09-01（万方平台首次上网日期，不代表论文的发表时间）