Empirical Studies of Influential Factors on Overseas Acquisition: From Home Country perspective

The opening up policy of China has been turned from only attracting overseas capital to encouraging Chinese enterprises to ldquogoing aboardrdquo. This paper comprehensively applies S.hymerpsilas monopoly advantage theory, Johnsonpsilas core capital theory and Dunningpsilas eclectic theory to analyze influential factors on outward merger and acquisition from home country perspective, with data from 33 countries and regionspsila panel data, the paper examines the impacts of 9 influential factors on overseas acquisition from home country perspective. The paper finds out that as to the indexes that reflect general competitive advantages of home country, such as economic development, international trade, capital accumulation, technological development, have significant positive correlation with overseas acquisition; As to the Industrial structure, manufacture industry proportion is negative correlated with overseas acquisition, while service industry proportion is positively correlated with overseas acquisition; Besides, Favorable international economic circumstances of home country have a contribution to reducing added cost for overseas acquisition, and promote the development of overseas acquisition.