The first part analyzes the M&A motive mainly from the financial angle, andgeneralizes it into several aspects below: pursuing the financial co-ordination effect,acquiring the finance ability in capital market and acquiring the low-price asset.
第一章主要从财务角度考察并购动机，并将并购动机归纳为以下几个方面：谋取财务协同效应，获得资本市场上的筹资能力，获得低价资产等。
参考来源 - 企业并购中的财务分析The M&A motivation is a choice based on Strategic analysis,which direct the goal and emphasis of the integration between both pallies.
：并购动机是并购方在战略分析的基础上做出的选择，体现并购方的意志，是并购方整合的目标和重点。
参考来源 - 公司并购整合的模式·2,447,543篇论文数据，部分数据来源于NoteExpress
第二章对并购动机、并购绩效的相关研究成果进行了总结，发现控制权转移对目标公司绩效提升有正向影响。
Chapter 2 is a brief review and evaluation on the theories of M&A motivation and effect, coming up with the conclusion that transference of control right improves performance of targeted companies.
本文首先介绍了青岛啤酒的历史背景，并详细叙述了青岛啤酒的并购动机和并购整合战略的实施过程，通过绩效评价的分析解释了青岛啤酒并购整合战略的成功之处。
This thesis first gives a brief introduction of Tsingtao Beers' historical background, its motive of M&A and the reason of its success by means of performance evaluation.
从并购理论看，并购活动最根本的动机就在于利润的最大化。
The essential motives of merger are to achieve the maximization of profit in theory.
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