Financial Evaluation on Chinese Investment in the Australian Mining Industry
By 2010, China has been not only the worlds second largest inward foreign direct investment (IFDI) recipient, but also was ranked as the fifth largest outward foreign direct investment (OFDI). Except Chinese OFDI to tax havens, Australia was the top destination for Chinese OFDI. Most Chinese OFDI in Australia has been made by Chinese state-owned enterprises (SOEs) with the aim to secure Australian natural resources. Following by describing the sectorial distribution of Chinese OFDI in Australia and its motives, this paper aims to provide a financial evaluation on the performance of Chinese ODI in Australia by analyzing 14 Chinese-controlled Australian firms. Key findings indicate the overall financial performance of these Chinese acquired firms is substantially lower than the industry norm, and has the characteristics of low profitability, high raising debt and low management effectiveness.
Chinese OFDI in Australia financial evaluation post-acquisition performance
Zhou Shijia Huang Xueli Deng Ling
RMIT University, Australia
国际会议
杭州
英文
202-216
2011-10-15（万方平台首次上网日期，不代表论文的发表时间）