【作者】 汪琳；

【导师】 李欣广；

【作者基本信息】 广西大学 ， 国际贸易学， 2004， 硕士

【摘要】 20世纪80年代以来，全球经济发展的一个重要特征就是生产和资本流动国际化趋势明显。由于科学技术的进步、国际分工的深化，跨国并购出现了新的变化趋势。特别是90年代以来，外资在华并购已经成为外商在我国投资的一个重要特征。 本文首先将从以下三个角度介绍并购动因理论：首先是介绍西方主要的并购理论；二是从公司经济学角度介绍；三是从一种新的解释角度介绍，也就是交易费用理论。 并购动因理论实质上解释了并购活动的内在动因，本文将结合上述理论对外资在华并购的投机型、经济型、战略型动机作出详尽的说明。 外资在华并购除了内在动因的影响，同时我们还应该注意外在动因的影响，本文将具体阐述技术进步与企业规模、产业结构与经济周期、市场结构与竞争强度对外资在华并购的推动作用。 外资在华的大规模并购在我国产生了明显的宏观效应。总的说来，主要有资源配置效应、技术进步效应、财富效应与投资需求效应。本文将通过引用模型以及一些相关数据对其作出详细的分析。 为了更好地发挥外资在华并购的正面效应，同时避免其负面效应，本文提出了如审慎制定外资政策，完善资产评估制度等几条具体的建议来解决这个问题。当然，由于笔者水平有限，一些见解必定存在疏漏之处，只希望本文能对外资在华并购的研究中起到抛砖引玉的作用。更多还原

【Abstract】 Since the 20th Centrury 80th decade, the key character of global economic development is production and capital flow take on obvious internationalization trend. With advancement of technology and deepening of international divide, mutinational merge and acquisition(M&A) appear new change. Sjnce the 90th decade, M&A of foreign capital in China have become an important character of foreign investment in China.This paper will introduce M&A theory from three angles in the following: Firstly, from western primary M&A theory angle; secondly, from company economics angle; thirdly, from a kind of new expositive point, that is business expense theory angle.These theory virtually explain inherent cause of M&A. Combining the above theory, the cause of speculative type, economical type and strategic type will be explained at large in this paper.M&A of foreign capital in China is influenced by inherent cause.Meanwhile, we also pay attention to influence of exterior cause. This paper will expound concretely how technology advancement and corporation size, industry structure and economic cycle, market structure and competitive intension impel M&A of foreign capital in China.Large scale M&A of foreign capital in China will bring obviously macrosopical effect. Taking one with another, these effect mostly include resource collocating effect, technology advancement effect, wealth effect and investment demand effect. These effects will be analysed in detail by model and correlative data.For exert positive effect and avoid negative effect/This paper bring forward several suggestions to settle this problem. Certainly, restricted by present ability, The views of the writer must exist some oversights. Any comment would be appreciated.更多还原