Research on the Relationship Between Enterprise Internal Control and Cross-Border Mergers and Acquisitions Performance in the Internet Era-Using the Multiple Linear Regression Model and Statistical Softwares

Nowadays, Cross-border mergers and acquisitions (M&A) have been a significant way for Chinese companies to enter the international market. As a system for enterprises to control business risks, internal control has a fundamental role in the business activities. What is more, the essence of cross-border M&A is high-risk projects. Therefore, the question is raised about if internal control can be helpful in promoting the performance of cross-border M&A. This study combs the relevant domestic and foreign literature, and takes the cross-border M&A activities of Chinese listed companies as the main merging party from 2013 to 2017 as the initial research object, establishes a multiple linear regression model, and uses statistical softwares such as SPSS 26.0, Stata 16.0 and Excel 2013 to complete data processing and empirical analysis, and finds out that internal control affects positively on the improvement of cross-border M&A performance. Effective internal control has a very positive role in improving the performance of cross-border M&A in companies with higher financing constraints in comparison with companies with lower financing constraints. Accordingly, this paper also puts forward relevant suggestions to enterprises, aiming to promote the improvement of the performance of enterprises’ cross-border M&A.