title: Assessment of financial and economic risks of cross-border mergers and acquisitions of public Chinese companies
title: Ð²ÑÐ¿ÑÑÐºÐ½Ð°Ñ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð¼Ð°Ð³Ð¸ÑÑÑÐ°
titleType: Subtitle
title: ÐÑÐµÐ½ÐºÐ° ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²Ð¾-ÑÐºÐ¾Ð½Ð¾Ð¼Ð¸ÑÐµÑÐºÐ¸Ñ ÑÐ¸ÑÐºÐ¾Ð² ÑÑÐ°Ð½ÑÐ³ÑÐ°Ð½Ð¸ÑÐ½ÑÑ ÑÐ»Ð¸ÑÐ½Ð¸Ð¹ Ð¸ Ð¿Ð¾Ð³Ð»Ð¾ÑÐµÐ½Ð¸Ð¹ Ð¿ÑÐ±Ð»Ð¸ÑÐ½ÑÑ ÐºÐ¸ÑÐ°Ð¹ÑÐºÐ¸Ñ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¹
Creators: name: ÐÐ°Ð½ Ð§Ð¶ÑÐ½ÑÐ»Ð¸Ð½Ñ
Publisher: name: Ð¡Ð°Ð½ÐºÑ-ÐÐµÑÐµÑÐ±ÑÑÐ³ÑÐºÐ¸Ð¹ Ð¿Ð¾Ð»Ð¸ÑÐµÑÐ½Ð¸ÑÐµÑÐºÐ¸Ð¹ ÑÐ½Ð¸Ð²ÐµÑÑÐ¸ÑÐµÑ ÐÐµÑÑÐ° ÐÐµÐ»Ð¸ÐºÐ¾Ð³Ð¾
Year: 2024
Subjects: cross-border
mergers and acquisitions
financial risk
z-score
factor analysis

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description: This paper collects 124 cross-border M&amp;A cases initiated by Chinese A-share listed companies from 2018 to 2022 as research objects. First, the Z-value model is used to evaluate the financial risks of the companies; secondly, the factor analysis method is used to extract the common factors of financial indicators, using them as independent variables and the Z-value as the dependent variable to construct a multivariate regression model to study the influencing factors of the financial risks of cross-border M&amp;A. The research results show that in the year of merger and acquisition, cash payment factors have a significant impact on the companys financial risk; in the first and second years after the merger, both cash payment factors and financial integration factors have a significant impact on the companys overall financial risk. Data collection and analysis mainly used Excel for numerical analysis and Stata for regression analysis. The results of this study show that the selection of payment methods and the control of financial integration in the later stages of mergers and acquisitions are important concerns for enterprises to effectively prevent financial risks. This paper studies the impact of cross-border mergers and acquisitions on the financial risks of Chinese enterprises, studies its operating mechanism, and proposes control strategies. This has objective significance for how to improve the efficiency of cross-border mergers and acquisitions of Chinese enterprises and help them embark on a healthy internationalization path.