论文标题:我国民营企业跨国并购的多元比较与实证分析
The Case Analysis and Plural Comparison of China Private Enterprises" Transnational Merger
论文作者
论文导师 邵桂兰,论文学位 硕士,论文专业 国际贸易学
论文单位 中国海洋大学,点击次数 485,论文页数 66页File Size824K
2006-04-10论文网 http://www.lw23.com/lunwen_3846917/
private enterprise; transnational merger; acquisition; case analysis; plural comparison
近年来,随着全球经济一体化的发展,以美国为首的跨国公司掀起了新一轮跨国并购浪潮,发展速度很快,并且并购主体也扩展为发展中国家和新兴工业化国家与地区相互间的跨国并购、发展中国家对发达国家的并购等。在全球范围内的跨国直接投资当中,有80%以上是通过并购的方式进行的。 跨国并购大潮中自然少不了中国企业的身影。从1988年到1996年,我国企业跨国并购年均仅有2.61亿美元,而从1999年开始,并购额逐年增加,2005年达到62亿美元,并呈快速上升势头。基于中国整体经济环境的优化,以及中国企业自身的成长性,未来将有更多的中国企业以更大的规模与效率参与跨国并购。我国民营企业在全球跨国并购中的表现越来越受到重视。2004年底,联想集团以17.5亿美元的价格并购了美国IBM公司的PC分部,震惊了全球各界,与此同时,江浙等地的中小民营企业,也纷纷开始了跨国并购步伐。美国《商业周刊》撰文认为,未来10年中国企业将进行大规模的跨国并购,从而将改变世界企业竞争的整体格局。 本文首先概述了全球跨国并购的现状与趋势,然后简要剖析了几起有代表性的全球跨国并购事件,以为中国企业提供基础性的借鉴;然后将视线收回国内,通过民企与国企在跨国并购中不同表现的多角度对比,印证“民营企业+跨国并购”将成为我国企业投资的主流形态的说法。 然而,民企跨国并购受到主客观多重因素的影响与制约,本文继而在对我国民企跨国并购的环境进行多维度审视,从三起有代表性的并购案例入手,剖析不同风格民企跨国并购事件的路径选择与可行性;与此同时,对民企跨国并购进行国际对比,发掘与透视我国民企海外并购的优劣势,从而提出了推进民企跨国并购的“三维模式”。最后,通过对并购后的整合过程中的风险因素分析,从信誉取向等代表性角度对我国民企提出了可行性建议。
In recent years, with the development of global economy integration, the trans-corporations headed by U.S.A. have being raised a new round of transnational merger tide , it is very fast and the subject expands to mutual transnational merger of developing country , newly industrializing country and Merger of the developed country by developing country ,etc.. In the transnational direct investment in the world, over 80 percent is carried on by way of merging. Can"t do without the figures of Chinese enterprises in the spring tide of transnational merger naturally. From 1988 to 1996, only there are 261 million dollars every year in enterprise"s transnational merger of our country, and since 1999, merge volume increase year by year , reach 6,200 million 2005. On the basis of the optimization of China"s whole economic environment, and Chinese enterprise"s own growths, there will be more Chinese enterprise with heavy scale and efficiency participation transnational merger in the future. The behavior in the transnational merger of private enterprises of our country is being paid attention to. At the end of 2004, Lenovo Group merge PC subsection of American IBM at 1,750 million dollars, it is global and from all walks of life to shock, meanwhile, the medium and small private enterprises of Jiangsu , Zhejiang Provinces and other places, have begun transnational merger paces one after another, too. U.S.A. " Business Weekly " reports , Chinese enterprises will carry on extensive transnational merger in the following 10 years, thus change the whole pattern of competition of world enterprise. This thesis has summed up current situation and trend of global transnational merger at first, then dissected several representative global transnational merger incidents briefly , in order to offer basic reference for Chinese enterprises; Then
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