【作者】 李军；

【导师】 王宗光；

【作者基本信息】 兰州理工大学 ， 企业管理， 2007， 硕士

【摘要】 跨国并购是当代企业国际拓展的重要形式,也是近年来国际直接投资流动的最主要形式之一。随着经济全球化进程的加快和我国民营企业规模的不断壮大,尽管在并购的规模上中国民营企业还无法与发达国家的企业相比,但是越来越多的中国民营企业开始把跨国并购作为对外直接投资、开拓国际市场的新策略。本文旨在对中国民营企业在国际化的过程中跨国并购的战略进行研究。在文章中,笔者对中国民营企业所处的国际并购环境,比较优势,并购战略模式以及由跨国并购而产生的风险等进行了比较全面的分析及阐述,并提出了中国民营企业跨国并购的战略选择。本文共分五个章节。第一章是阐述论文中所涉及的主要概念,包括跨国并购、民营企业的概念,国内外研究动向以及本文研究的主要内容和方法。第二章介绍了中国民营企业跨国并购的历史及现状,分析了当前民营企业跨国并购中最有可能遇到的风险,提出相应的风险防范策略以及中国民营企业实施跨国并购的特点和条件。第三章剖析了当前中国民营企业进行跨国并购的战略模式包括动因、区位选择、行业选择等内容。第四章着重论述了民营企业跨国并购战略的制定和选择。第五章对中国民营企业进行跨国并购整合进行概括性分析。最后结论提出中国民营企业在跨国并购时要有明确的并购战略,本着先易后难原则,重视发展中国家的市场,合理控制风险以及实现协同效应的整合。本文将中国民营企业跨国并购作为研究的对象,并将研究的视角直接投向并购的战略,试图探索出其中具有普遍性的特点,从而能够为以后中国民营企业跨国并购的成功提供一些指导性建议。然而本文也有一定的不足之处,如仅对中国民营企业跨国并购的一般性要素进行了SWOT分析;而在民营企业的实际中,企业并购的战略原则、方法技巧很多;不同企业面临的情况不同,民营企业并购也会有差异,本文没能就此做出更系统全面的研究。当然,随着中国民营企业跨国并购实践的进一步发展,并购的风险和并购后的整合会遇到更多新情况和新问题,因此,本课题的研究应该是动态的和长期的,并会随着实践的发展而不断完善。更多还原

【Abstract】 Cross-border M&A, the new form of investment towards the outside world, is also one of the most important forms of foreign direct investment (FDI). With the accelerating process of economic globalization and China’s private enterprises scale growing, despite the acquisition of the size of China’s private enterprises are still unable to enterprises compared with the developed countries, but an increasing number of Chinese private enterprises began to cross-border M & As, opening up the international market new strategy. The purpose of the study is on international cross-border M & As strategy in the internationalization of China’s private enterprises. In the article, the author made a more comprehensive analysis that international mergers and acquisitions environment of Chinese private enterprises, comparative advantages, and the mode of transnational mergers and acquisitions strategies and the risk made by a Chinese private enterprises cross-border M & As strategic choice.This paper is divided into five chapters. The first chapter is on paper of the key concepts involved, including cross-border mergers and acquisitions, the concept of private enterprises, domestic and foreign research trends and the paper on the main contents and methods. The second chapter introduces the history of the Chinese private enterprises cross-border M & As, and tells the risk of the private enterprises is most likely to encounter in mergers and acquisitions and risk prevention strategies accordingly. Then, it analyses the conditions, advantages and characteristics of cross-border M & As currently. The third chapter analyses the current Chinese enterprises cross-border M & As strategy models including motives, site selection, and selection of content industry and so on. The fourth chapter focuses on cross-border mergers and acquisitions of private enterprises in the development of strategies and options. The fifth chapter sums up a general analysis of integration strategy in M & As of Chinese private enterprises .The final conclusions raises Chinese private enterprises should have a clear acquisition strategy, besides, the principles include of starting with the difficulty, attending markets of developing countries, reasonable risk controlling and the realization of synergy integration in cross-border mergers and acquisitions.The innovations of this paper are: Chinese private enterprises are the subject of this issue. It prospects directly into the M & As strategy, which attempts to explore a universal features and provide some guide recommendations for following cross-border mergers and acquisitions of China’s private enterprises to be successful.But there are also have some shortcomings, such as I put the only general elements in the SWOT analysis of Chinese private enterprises; there are so many strategic principles, methods and skills in M & As. In real world, private enterprises will also focus on M & A differences when private enterprises are faced with different circumstances so the paper failed to make this more systematic and comprehensive study. Of course, with the further development cross-border M & As of China’s private enterprises, the risk in mergers and acquisitions and integration after mergers and acquisitions will be faced more new situations and new problems. Therefore, the study of the task should be dynamic and long-term, and be constantly improved with the development of practices.更多还原