制造业全球跨境并购网络空间格局演化及影响因素  

The Evolution and Infl uence Factors of Global Cross-border M&A Network Spatial Pattern in Manufacturing Industry

作　　者：吴小节[1] 杨洁莉 WU Xiaojie;YANG Jieli

机构地区：[1]广东工业大学,广东广州510520

出　　处：《国际商务研究》2024年第1期1-15,共15页International Business Research

基　　金：国家自然科学基金面上项目“中国企业跨国并购后组织间关系网络整合研究:方式、过程及结果”(项目编号:72272038)、“中国企业跨国并购的制度复杂性与组织战略反应:动态演化、作用机制及其策略有效性研究”(项目编号:71872053);国家社会科学基金一般项目“中国企业对‘一带一路’沿线国家直接投资的制度复杂性及应对策略研究”(项目编号:20BGL032)。

摘　　要：本文以1997~2019年制造业全球跨境并购的交易事件数作为样本,探究2008年金融危机前后制造业跨境并购网络空间演变特征及其影响因素的差异性。结果发现:制造业跨境并购网络聚集程度略微降低,但网络联系的规模、强度及密度等均呈现增长的趋势;制造业跨境并购网络的重心由以欧美主导的经济体向亚太地区倾斜;推力因素包括经济、技术、自然资源和劳动力距离等资源标的动机均对制造业跨境并购联系的形成产生负向影响;拉力因素在金融危机前后对制造业跨境并购网络形成的影响不同;地理距离对其产生负向影响;而制度距离由2008年前的正向影响变为无影响;汇率和教育距离则分别由2008年前的无影响变为正向和负向影响。This paper takes the number of global cross-border M&A transactions in manufacturing industry from 1997 to 2019 as a sample to explore the characteristics of the evolution of cross-border M&A network space in manufacturing industry before and after the financial crisis in 2008 and the differences of its influencing factors.Several conclusions are drawn as follows:1)The degree of network aggregation of cross-border M&A in manufacturing industry decreases slightly,but the scale,strength and density of network connections all show an increasing trend;2)The focus of cross-border M&A network in manufacturing industry has shifted from the economies dominated by Europe and the United States to the Asia Pacific region;3)The driving factors include the motivation of resource targets such as economy,technology,natural resources and labor distance,which have a negative impact on the formation of cross-border M&A links in the manufacturing industry.The pull factor has different effects on the formation of cross-border M&A network of manufacturing industry before and after the financial crisis.Geographical distance has a negative impact on it.The institutional distance has changed from a positive impact before 2008 to no impact,while the exchange rate and education distance have changed from a negative impact before 2008 to a positive and negative impact respectively.

关 键 词：世界经济地理 全球并购网络 制造业 空间格局演化 影响因素 

分 类 号：F742[经济管理—国际贸易]