Abstract: Overseas mergers and acquisitions of Chinese firms experienced rapid growth and attracted the attention of academic research. Existing studies mainly analyzed the motives, location choices, and efficiency of Chinese firms’ M&As. This paper selected a sample and empirically tested certain assumptions in the way of both One Way Analysis of Variance and Regression Analysis. Empirical study indicates that, if the host country boasts a much more open market than China, and the cultural differences between these two countries are large, Chinese enterprises are more likely to hold a controlling stake in overseas merger and acquisition. M&As performed by state-owned firms and M&As which aims at firms of developed countries tend to choose lower-control strategy. The involvement of natural resources & energy industry and business environment of the host country also have significant impact on the equity strategy of overseas M&As, but the influence path is not clear.
Keywords: Cross-border M&As, Equity Strategy, One-way ANOVA, Regression Analysis.
source:Finance & Trade Economics ,No9,2013