美国跨国公司并购行为的变迁及对中国的启示  

American Cross-border Mergers and Acquisitions: Theory,Variance and Enlightenments

作　　者：刘春宏[1] 

机构地区：[1]山东经济学院文学院,山东济南250011

出　　处：《经济与管理》2006年第9期25-30,共6页Economy and Management

基　　金：教育部人文社会科学规划基金重点项目资助(批准号:05JA790049)

摘　　要：中国企业并购是中国经济发展的必然产物,是持续发展的必由之路。但并购容易整合难“,好吃未必好消化”,美国跨国并购经验借鉴借鉴。中国企业并购相关制度安排应是:建立跨国并购扩张战略的梯度优势,形成技术层次互补、技术创新和扩散良性循环;跨国并购是市场行为,应强化企业实现价值最大化的并购动机;大力推行战略性跨国并购,加大同行业强强联合的力度;市场中介机构在跨国并购中大有作为,应重视跨国并购中的文化整合与管理。Chinese proverb notes, ＂delicious foods may not be easy to digest＂. On the base of cost and income analysis, points out that the mergers and acquisitions of China＇s enterprises are confronted with the risks and existing problem. This article begins with the transformation of M＆A of US companies, then points out the potential risks and problems for China＇s enterprises, and provides suggestions. Firsdy, to establish distend strategical grads predominance of M＆A, and to form complementarity of technical administrative levels, technical innovation and diffused recurrence. Secondly, M＆A is a market behavior, so the motivation that enterprise achieves the maximum value of M＆A should be strengthened. Thirdly, to strengthen tactic M＆A vigorously and associated force. Fourthly, to recognition conformity of M＆A. Fifthly, market agency organization is able to develop its skill to full M＆A. And lastly, to recognition conformity and management of M＆A on culture.

关 键 词：跨国并购 美国经验 启示 

分 类 号：F276.7[经济管理—企业管理]