本文選題：工程機(jī)械　切入點(diǎn)：跨國并購　出處：《蘇州大學(xué)》2015年碩士論文　論文類型：學(xué)位論文

【摘要】：伴隨著經(jīng)濟(jì)全球化步伐的加快以及“走出去”戰(zhàn)略的實(shí)施,我國越來越多的企業(yè)將跨國并購作為對外直接投資、開拓國際市場、提高企業(yè)競爭力的新策略。從上個世紀(jì)90年代開始,海外并購就已逐步成為我國企業(yè)對外投資的重要方式。2007年金融危機(jī)爆發(fā)以后,中國工程機(jī)械巨頭頻頻發(fā)起海外收購,掀起了一場海外并購的熱潮,中聯(lián)重科收購意大利CIFA、柳工收購波蘭HSW、三一收購德國普茨邁斯特、徐工收購施維英等一系列并購的完成,不僅提升了我國工程機(jī)械的研發(fā)水平,更將中國品牌推向了世界。然而,較西方發(fā)達(dá)國家而言,我國跨國并購起步較晚,尚處于初級階段,對跨國并購缺乏全面、深刻、系統(tǒng)的認(rèn)識,盡管我國工程機(jī)械行業(yè)的跨國并購行為越來越多,但其中不乏許多失敗的案例,成功的并購鳳毛麟角。因此,深入研究跨國并購理論,并結(jié)合我國工程機(jī)械企業(yè)跨國并購的實(shí)踐,對中國工程機(jī)械企業(yè)跨國并購中出現(xiàn)的問題進(jìn)行深入研究,進(jìn)而提出可借鑒的經(jīng)驗(yàn)和教訓(xùn),具有重要意義。本文首先對跨國并購相關(guān)理論做了比較系統(tǒng)的闡述,然后結(jié)合現(xiàn)階段中國工程機(jī)械行業(yè)的現(xiàn)狀和跨國并購的特點(diǎn),對中聯(lián)等三家中國工程機(jī)械巨頭在跨國并購前的動機(jī)、并購的模式選擇以及并購后的整合等方面的異同做主要分析,分析中國工程機(jī)械企業(yè)如何走出國門、以小并大的蛇吞象行為,挖掘出其中可以汲取的經(jīng)驗(yàn)和教訓(xùn),從而對以后中國工程機(jī)械行業(yè)的跨國并購提供比較好的借鑒和思路。為了研究的方向性和實(shí)用性,本文選擇了國內(nèi)三家工程機(jī)械巨頭分別并購全球混凝土前三甲的行為作為研究對象,即以中聯(lián)并購意大利CIFA、三一并購德國普茨邁斯特、徐工并購德國施維英為例,三巨頭的并購代表了中國工程機(jī)械行業(yè)的未來發(fā)展方向,是整個行業(yè)的風(fēng)向標(biāo),他們的并購行為必定有許多可以值得其他工程機(jī)械企業(yè)借鑒的地方和可以汲取的經(jīng)驗(yàn),所以本文以中聯(lián)等三家跨國并購行為為主要案例進(jìn)行分析具有現(xiàn)實(shí)和長遠(yuǎn)意義。
[Abstract]:With the acceleration of the pace of economic globalization and the implementation of the "going out" strategy, more and more enterprises in China regard cross-border mergers and acquisitions as foreign direct investment to open up the international market. Since the 1990s, overseas mergers and acquisitions have gradually become an important way for Chinese enterprises to invest abroad. After the financial crisis broke out in 2007, Chinese construction machinery giants frequently launched overseas acquisitions. There has been a wave of overseas mergers and acquisitions. The completion of a series of mergers and acquisitions, such as the acquisition of CIFA of Italy by Lianglian, HSW of Poland by Liugong, Putzmeister of Germany by Trinity and Shi Weiying by Xugong, has not only improved the level of research and development of construction machinery in China. However, compared with the western developed countries, China's cross-border M & A started late and is still in its infancy, lacking a comprehensive, profound and systematic understanding of cross-border M & A. Although there are more and more cross-border mergers and acquisitions in the construction machinery industry of our country, but there are many failed cases, successful M & A is rare. Therefore, the theory of transnational M & A is deeply studied. Combined with the practice of transnational mergers and acquisitions of construction machinery enterprises in China, the problems in cross-border mergers and acquisitions of construction machinery enterprises in China are studied in depth, and the experiences and lessons that can be used for reference are put forward. It is of great significance. Firstly, this paper makes a systematic exposition on the theory of transnational merger and acquisition, and then combines the present situation of construction machinery industry in China and the characteristics of transnational merger and acquisition. This paper mainly analyzes the motives before cross-border M & A, the mode selection of M & A and the integration after M & A among the three Chinese construction machinery giants, and analyzes how Chinese construction machinery enterprises go abroad. In order to study the direction and practicability of the research, the small and large snake swallowing behavior is used to excavate the experiences and lessons that can be learned from it, thus providing a good reference and train of thought for the future cross-border mergers and acquisitions of the construction machinery industry in China. This paper chooses the behavior of three domestic construction machinery giants to acquire the top three concrete in the world respectively as the research object, that is, taking CIFA of Italy, Putzmeister of Germany, Xugong and Schweying of Germany as examples. The M & A of the three giants represents the future development direction of the construction machinery industry in China and is the vane of the whole industry. Their merger and acquisition behavior must have many places and experiences that can be used for reference by other construction machinery enterprises. Therefore, it is of practical and long-term significance to analyze the three cross-border M & A cases.
【學(xué)位授予單位】：蘇州大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F271;F426.4

【參考文獻(xiàn)】

相關(guān)期刊論文 前1條

1 毛玉嶺;;中企德國并購之路[J];中國外匯;2013年19期

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本文編號：1649260