论文标题:山东晨鸣纸业集团股份有限公司并购研究
American New Economy and Research on the Model of National Innovative Systems
论文作者 李洪程
论文导师 金镝,论文学位 硕士,论文专业 工商管理
论文单位 大连理工大学,点击次数 88,论文页数 61页File Size2294k
2001-05-01论文网 http://www.lw23.com/lunwen_809595232/ 资本运营,纸业,并购,发展战略
capital operation, paper industry, merger and acquisition,developing strategy
山东晨鸣纸业集团股份有限公司是国内第一家拥有A、B两只股票的纸业上市公司。该公司依靠并购，发展速度不断加快，规模和效益持续攀升。 本文总结了晨鸣纸业公司并购中的成功做法，找出了在并购中表现出来的阻碍公司进一步发展壮大的不足，如存有缺乏战略思想做指导、政府干预较多、市场化程度不高、筹资形式单一及面临管理和人才问题等。针对晨鸣纸业公司并购中存在的这些问题，从公司实际出发，考虑影响并购的有关法律法规、我国资本市场状况和国内外纸业竞争结构和市场发展前景等外部环境因素，提出了今后并购中晨鸣纸业公司应采取的改进措施：要明确并购的发展方向；政府要减少对企业的行政干预；要按市场化程序合理运作并购；多渠道筹集并购资金；重视解决并购中的管理和人才问题。
Shandong Chenming Paper Holdings Limited is the first mill which issued Aand B shares in paper industry in the PRC. The company has a high developingspeed, relying on merger and acquisition. It has also a large scale and an excellentprofit. The reason that the company makes a progress is it purchase a few ofenterprises. In this course, the company has aspect of success and deficiency. Inorder to solve the faults, the company should take a few of measures to improve itsadvantage of merger and acquisition. The measures are worked out in accordancewith itself specific conditions and external factors of influencing the merger andacquisition such as domestic capital market, the product market and competitivestructure in paper inside and outside. Details of the improvement of merger andacquisition are five measures. First, the company has a developing market of mergerand acquisition. Secondly, the local government don’s manage the enterprises.Thirdly, the company takes measures to accordance to marketing rules , which areincluded analysing all conditions of target, estimating the value of target and cost,etc. Next , the funds of merger and acquisition are collected by many patterns.Finally, the problem on management and lack of perfect employees are solved in thefuture.
|
