중국 M&A의 실패사례에 관한 연구 -상하이자동차와 쌍용자동차의 M&A사례를 중심으로- = A Story M&A Theory and the Case Study -SAIC's M&A of Ssangyong Motor-

다국어 초록 (Multilingual Abstract)

This study is aimed to examine the concept of M&A and related theories and to analyze the case of SAIC's M&A of SSangyong Motor to look for the problems occurred in the process of M&A and the measures for a successful M&A. application of statistic data and existing literature was used as the research method. The construction of this study is as blow:
In the introduction, the purpose and the method of this study were explained; in chapter 1 to chapter 2, the history and the trend of global M&A, the history and the trend of Chinese M&A, and M&A related theories (FDI theory, the basic theory of M&A, the strategic model of amalgamation, evaluation of target enterprise, analysis and selection of merger loan of multinational enterprise, integrated study of M&A) were described; in chapter 3, the M&A case of SAIC and Ssangyong Motor was analyzed. Regarding to the main cause of the failure of SAIC's M&A of Ssangyong, this study points that: (1)The analysis of Ssangyong which was SAIC's target enterprise was not thoroughgoing enough; (2)There was organizational mismanagement after the M&A; (3)The organizational and cultural integration between two companies has failed. It also suggested few measures for a successful M&A which are active government support, nurturing talent, and preparation of cultural integration of organization. However, this study has its limitation because: it only analyzed one case which made its problem related outcome restrictive; there was no analysis of successful case of M&A.