【作者】 赵麟；

【导师】 凌文；

【作者基本信息】 中国矿业大学（北京） ， 管理科学与工程， 2011， 博士

【摘要】 本文首先分析了我国矿业企业进行跨国并购的重要意义,从投资角度预测了全球跨国并购产业分布和发展趋势,分析了跨国并购是我国矿业企业“走出去”的必然选择。揭示了研究矿业企业跨国并购相关理论的重要性。其次,对矿业企业跨国并购投资风险进行了系统分析.引入“信息熵”理论来研究风险识别问题,归纳计算出矿业企业跨国并购的主要风险因素,确立了系统评估矿业企业跨国并购的指标体系。再次,根据风险评估模型和方法多样的实际情况,制订了矿业企业跨国并购评估方法选择的原则和模型,并最终确定引入人工神经网络RBF算法、层次分析法、模糊评价法、实物期权法等方法,对汇率风险、资源风险、财务风险、整合风险等主要风险进行了定性和定量相结合的估计评价。并以中国有色矿业集团有限公司收购赞比亚卢安夏铜业公司为例,进行了案例分析,验证了风险评估方法的有效性和实用性。最后,运用决策支持系统(Decision Support System,简写为DSS)理论和计算机技术,设计了矿业企业跨国并购风险评估决策支持系统,进行了矿业企业跨国并购信息化的应用研究。更多还原

【Abstract】 This paper firstly analyzes the significant meaning of conducting cross-border M&A and the necessity of going global for Chinese mining enterprises with the prediction of distribution and development trend of global cross-border M&A industry from the perspective of investment. It also reveals the importance of conducting researches on relevant theories of mining enterprises’ cross-border M&A. Then it carries out a systematic analysis on investment risk of mining enterprises’ cross-border M&A, introduces Information Entropy theory to the research of risk identification, concludes and calculates major risk factors in cross-border M&A of mining enterprises and thus establishes the index system for systematically evaluating mining enterprises’cross-border M&A. Furthermore, according to actual situation of diverse risk assessment models and methods, this paper also formulates the principle and model of choosing assessment method of mining enterprises’ cross-border M&A, ultimately confirms the introduction of such methods as ANN (Artificial Neural Networks)-RBF algorithm, AHP (Analytic Hierarchy Process), fuzzy comprehensive evaluation method, real options method and conducts qualitative and quantitative estimates and evaluation to such major risks as currency risk, resources risk, target enterprise financial risk, integration risk. With an example of the purchase of Luanshya Copper Mines in Zambia by China Nonferrous Metal Mining (Group) Co. Ltd., the author carries out a case study and proves the effectiveness and practicality of risk assessment method. Finally, with the use of decision support system theory and computer technology, the author designs decision support system for mining enterprises’cross-border M&A and conducts applied research on information technology in mining enterprises’ cross-border M&A.更多还原