跨国并购的效应:研究述评及展望  

A Literature Review of Outcomes of Cross-border M&As and Future Prospects

作　　者：谢洪明[1,2,3] 张倩倩[1] 邵乐乐[1] 吴华飞[1] 

机构地区：[1]浙江工业大学经贸管理学院,浙江杭州310023 [2]浙江工业大学中国中小企业研究院,浙江杭州310023 [3]浙江省哲学社会科学重点研究基地技术创新与企业国际化研究中心,浙江杭州310023

出　　处：《外国经济与管理》2016年第8期59-80,112,共23页Foreign Economics & Management

基　　金：国家社会科学基金重大项目(12&ZD098);广东省自然科学基金项目(2014A030313268)

摘　　要：近年来企业跨国并购、特别是中国企业的跨国并购数量和金额都在快速增长,然而学术界对于跨国并购效应的认识仍然很模糊,甚至对"跨国并购效应"概念应该如何确切理解也存在争议。因此,学术界和实践界迫切需要系统地梳理关于如何理解跨国并购的效应,以及跨国并购是否以及如何影响企业的价值的相关研究。本文在文献计量学分析的基础上,系统性地回顾了跨国并购的理论和实证研究,梳理了跨国并购效应的含义、分类以及测量方法,详细阐述了跨国并购效应的影响因素和作用机制,进而提供了一个系统的跨国并购效应及其影响因素的理论框架。In recent years, cross-border M＆As, especially the cross-border M＆As quantity and amount of Chinese firms, are growing rapidly, but the academia still has a vague impression of the outcomes of cross-border M＆As, and even has not reached a consensus on how to definitely understand the concept of the outcomes of cross-border M＆As. So the academia and practice circle eager to sort out systematically the studies on cross-border M＆As about how to understand the outcomes of cross-border M＆As, as well as whether and how cross-border M＆As affect corporate value. Based on literature metrology analysis, this paper systematically reviews the theoretical and empirical research of cross-border M＆As, sorts out the content, classification and measurement of the outcomes of cross-border M＆As, and elaborates the influencing factors and function mechanisms of the outcomes of cross-border M＆As in detail. Then it provides a systematic theoretical framework of the outcomes of cross-border M＆As and influencing factors.

关 键 词：跨国并购 效应及影响因素 述评及展望 

分 类 号：F270[经济管理—企业管理]