Study on the influencing factors of corporate mergers on corporate value in Tsingtao Beer

Last modified: May 9, 2024
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Title: Study on the influencing factors of corporate mergers on corporate value in Tsingtao Beer

Author: Wang Bin

Advisor: ดร.จิดาภา ชลธารรัตนพงศ์ – Dr. Jidapa Chollathanrattanapong

Degree: International Business Management

Major: International Business Management

Faculty: บัณฑิตวิทยาลัย (Graduate School)

Academic year: 2566 (2023)

Published: The 6th STIU International Conference “Innovative Leadership for Sustainable Development” on 10-11 May 2022 SECTION-5 (pp.846-856) conference  proceedings


Abstract

This study explored the influence of mergers and acquisitions (M&As) on corporate value, with a particular focus on Tsingtao Beer, amidst the challenges of integrating resources, cultures, and strategic visions to enhance corporate value post-M&A. The problem addressed involves the difficulties Tsingtao Beer has faced in fully leveraging the benefits of M&As, specifically in terms of resource utilization, cultural integration, and strategic synergy realization. The objectives of this study were: 1) To examine the impact of resource complementarity on corporate value post-M&A., 2) To examine the influence of cultural integration on corporate value following an M&A., and 3) To examine the influence of strategic synergy on corporate value post-M&A.

Adopting the quantitative research methodology based on the resource-based view theory, this study utilized a structured questionnaire distributed among 800 employees and managers, resulting in 630 valid responses. Multiple regression analysis was employed to test the hypotheses, revealing that 1) resource complementarity contributes significantly to the corporate value of the combined enterprise, 2) cultural integration significantly contributes significantly to the value of the combined enterprise, and 3) strategic synergy contributes significantly to the value of the combined enterprise. Based on these findings, the study recommends focused strategies for improvement of due diligence, integration planning, cross-functional team use, cultural assessment and alignment, synergy identification, and leadership assignment to overcome the identified challenges.

In conclusion, this research not only substantiates the critical roles of resource complementarity, cultural integration, and strategic synergy in M&A success but also offers practical strategies for Tsingtao Beer to navigate post-merger integration more effectively, ultimately enhancing corporate value and employee satisfaction.

Keywords: Resource-Based View, Corporate Value, Resource Complementarity, Cultural Integration, Strategic Synergy


Study on the influencing factors of corporate mergers on corporate value in Tsingtao Beer

6317195426 Wang Bin 2566 (2023) Study on the influencing factors of corporate mergers on corporate value in Tsingtao Beer สารนิพนธ์ (Independent Study), Advisor: ดร.จิดาภา ชลธารรัตนพงศ์ – Dr. Jidapa Chollathanrattanapong, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Bangkok: Siam University

Academic Year 2023, Graduate School 2023, IMBA, IMBA 2023, Independent Study, Independent Study 2023, Master of Business Administration, Master of Business Administration (International Program) 2023, Master of Business Administration 2023, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration,International Business Management

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