文档介绍：摘要
企业投资是企业生存和发展的必然要求,跨国并购是企业面对国际环境的变化寻求资本扩张的必然趋势。20世纪90年代以来,经济全球化迅猛发展,以跨国公司为主体的跨国并购更是日趋活跃。中国经济发展迅速,对外跨国并购也取得了不少实质性进展,但企业的跨国并购尚属初级阶段。如何正确认识中国企业开展跨国并购所具有的优劣势,以及中国企业面临的机遇和威胁?如何进行跨国并购模式的选择?如何将我们目前的比较优势转化为核心竞争力,从而成长为真正的世界级企业?对这些问题的回答尚未形成一个体系,理论界以中国企业为主体来分析其跨国并购活动的研究还比较缺乏。本文所做研究希望能够为我国企业的跨国并购提供借鉴和指导。
本文大量采用数据分析与比较分析、定性分析与定量分析相结合的方法,并采用SWOT分析法对上述问题进行了系统研究。首先从跨国并购的内涵出发,探讨了跨国并购的特点趋势,运用Q理论对跨国并购和跨国创建两种投资进入方式进行了比较分析;然后在对中企与外企跨国并购的国际比较基础上,对中国企业开展跨国并购进行了系统的SWOT分析,认为中国优势企业已经初步具备了开展海外并购的比较优势,这些比较优势的存在正是中国企业开展海外并购业务的可行性依据所在,但中国企业也面临很多劣势和威胁,跨国并购并非坦途一片。最后对于中国企业跨国并购的模式选择,构建了基于中国企业SWOT分析的TOWS矩阵战略模式和核心竞争能力战略模式,企业通常应首先采用WO、ST或WT战略进而达到能够采用SO战略的状况,立足核心竞争能力培养的跨国并购才能最终获得成功。
关键词:中国企业,跨国并购,SWOT分析,模式选择
ABSTRACT
Enterprise investment is the bound requirements for its survival and development, and CBM&As (Cross-border Merger & Acquisitions) are the inevitable trend for enterprise’s seeking capital expansion when facing changeable international situations. With the rapid development of world economy globalization since 1990s, TNCs’ CBM&As has e more active. CBM&As for Chinese enterprises are still in its infant stage in spite of china’s rapid development of economy and its substantive progress in CBM&As. How to recognize Chinese enterprise’s strength&weakness and its opportunities&threats correctly during CBM&As? How to make decision on mode choosing? How to change parative advantages into petence so as to e a genuine world-class enterprise? The answers to these questions are not formed into one system and research on Chinese enterprise’s CBM&As is scarce in theoretical fields, so the research in this paper is expected to provide reference and guidance to panies.
This paper adopts lots of data analysis parative analysis. bination of qualitative analysis&quantitative analysis and SWOT analysis are also used to study above problems. First from the connotation of CBM&As, the article discusses its characteristics & trends, and parison between CBM&As and Greenfield investment in terms of Q theory.