跨国公司在华并购研究

【作者】 乔惠波；

【导师】 冯玫；

【作者基本信息】 河北师范大学 ， 思想政治教育， 2004， 硕士

【摘要】 跨国公司作为国际直接投资的主要载体，在世界经济的舞台上扮演着日益重要的角色。跨国公司的国际直接投资方式有两种：一是直接设厂投资；二是跨国并购。近几年来，伴随着经济全球化的进一步加深，国际直接投资方式逐步由传统的“绿地投资”转向跨国并购，跨国并购的浪潮席卷全球，成为20世纪90年代世界经济的一大亮点。虽然现在跨国并购的势头有所减弱，但其所产生的影响必将深入到21世纪，对世界经济的格局产生重要的影响。随着全球经济一体化的发展，跨国并购仍将是理论界和实践界关注的焦点。 我国的改革开放事业进行到今天，已经取得了辉煌的成绩。随着改革的加深和世界经济的发展，会不断出现许多新情况和新问题。跨国并购的发展，尤其是近几年跨国公司对华投资方式的转变，对我国经济的发展提出了严峻的挑战。跨国公司采用并购方式投资对我国的经济发展有何影响?我国怎样应对跨国公司的并购浪潮?这些问题的回答直接关系到我国现代化事业的顺利进行。 跨国并购是国内企业并购的延伸，但并不等同于国内企业并购。跨国并购具有一些与国内企业并购不同的特点。跨国公司在全球范围内并购的现状表明发展中国家正逐步参与到跨国并购的浪潮中，发展中国家不可能置身于跨国并购浪潮之外。 近几年来，发展中国家为了加快吸引外资的步伐，纷纷出台政策，加快引资方式由传统的“绿地投资”向并购投资的转变。我国作为发展中国家的一员，这几年的引资状况并不令人满意。所以借鉴发展中国家的经验，加快引资方式的转变就成为我国加大引资力度的重要举措。 跨国公司并购我国企业有其内在的动因，其理论涉及国际直接投资理论和企业并购理论。本文略述了现今几种比较有代表性的跨国并购理论，进而分析了跨国公司并购我国企业的现实动因。 本文认为，跨国并购已经成为国际直接投资的主要方式，跨国公司并购我国企业是跨国公司在华投资方式转变的必然选择。同时，跨国公司并购我国企业必将对我国经济的发展产生重大的影响。我国经济的发展如果借助跨国公司的在华并购必将进一步走向深入。我国企业的改造，我国技术的提升，我国产业结构的优化将随着跨国公司的并购进程得到加强。当然，跨国公司的并购对我国经济的发展也会产生许多负面的影响，跨国公司的并购也是一把“双刃剑”。所以在积极引进跨国公司并购的同时，用。我国也必须对其进行引导和规范，使之真正发挥积极促进我国经济发展的作更多还原

【Abstract】 As the main body of FDI , Transnational Corporations is playing more and more important role in world economy. Its FDI means includes : one is building factory ; the other is cross -border M&A . In recent years , with the development of economic globalization , the means of FDI is converting from " green field investment " to cross - border M&A , the wave of cross -border M&A is throughout the globe , has become the Lightness in the world economy of 1990s . Though the wave of cross - border M&A is being weak , the influence is far - reaching to the structure of world economy . With the development of world economic integration , cross - border M&A will still be the focus in the theory world and practice world .The reform and open up have made great achievement in our country . With the development of the reform and world economy , the new things and problem will appear from time to time . With the development of cross - border M&A , especially the change of investment patters to our country of the internal company , the serious challenge put forward to Chinese economy . What influence of the cross - border M&A to Chinese economy ? How should we deal with the wave of the cross - border M&A ? The answer of the problem directly relates to the Chinese modernization .The cross - border M&A is the extension of the internal enterprise M&A , but is different with the internal enterprise M&A . Its has different characters with the internal enterprise M&A . Manifest of the cross - border M&A in the worldwide indicate developing country is attending the cross - border M&A step by step . It is no doubt that the developing country couldn’t far away from the cross - border M&A .In recent years , the developing country has made a lot of new policy in order to draw foreign funds and picks up the transition pace of drawing funds from traditional "green field investment to the cross - border M&A . As the member of the developing country , the circumstance of drawing foreign funds in our country is not satisfied . So learning other developing country experience and picking up the transition of drawing foreign funds patterns will become the important measures to strengthen drawing foreign funds .Transnational Corporations M&A Chinese enterprise has its intrinsic reasons , its theoryrelates to theory of FDI and Corporations M&A . This paper outline several popular theory of Transnational Corporations M&A and analysis practice reasons of Transnational Corporations M&A Chinese enterprise .The author think Transnational Corporations M&A has become the main patterns of FDI and is the inevitable choice of Transnational Corporations investment pattern transition . As a same times , Transnational Corporations M&A Chinese enterprise will make great influence to Chinese economic development inevitably . For the Transnational Corporations M&A , our country goes smoothly . Chinese enterprise reform the improvement of technology and the optimization of the Chinese industry structure will be strengthen with the process of Transnational Corporations M&A Certainly , Transnational Corporations M&A will make negative influence to Chinese economy and is "double sword" . So when we take measures to encourage the Transnational Corporations M&A , we also should take measures to guide and regulate its behaviors and accelerate development of Chinese economy .更多还原