【摘要】：2012年我國(guó)企業(yè)海外并購(gòu)風(fēng)生水起，接踵而至，工程機(jī)械行業(yè)海外并購(gòu)更是占據(jù)了重要地位，，交易額占整個(gè)制造業(yè)并購(gòu)的45%。但是，我國(guó)關(guān)于工程機(jī)械企業(yè)的海外并購(gòu)整合研究中，很多并沒(méi)有結(jié)合具體某個(gè)企業(yè)的經(jīng)營(yíng)和發(fā)展?fàn)顩r，同時(shí)企業(yè)沒(méi)有國(guó)際運(yùn)營(yíng)經(jīng)驗(yàn)，很難真正發(fā)掘出企業(yè)海外并購(gòu)整合中的現(xiàn)實(shí)困難。因此，本文從當(dāng)前工程機(jī)械海外成功并購(gòu)的案例，探討我國(guó)企業(yè)海外并購(gòu)的整合問(wèn)題和經(jīng)驗(yàn)，以期為其他企業(yè)的并購(gòu)提供更好的借鑒。 首先，本文從核心能力和整合的定義及兩者的辯證關(guān)系出發(fā)，探索整合是企業(yè)進(jìn)行海外并購(gòu)價(jià)值提升的根源。通過(guò)對(duì)企業(yè)核心能力和海外并購(gòu)整合的相互關(guān)系分析，運(yùn)用企業(yè)能力理論和競(jìng)爭(zhēng)力等基礎(chǔ)理論，概括了整合競(jìng)爭(zhēng)力的核心概念。從戰(zhàn)略的匹配性、并購(gòu)的類型、并購(gòu)目的、資產(chǎn)特征和被并購(gòu)方對(duì)組織獨(dú)立性的需要程度五個(gè)方面構(gòu)建整合競(jìng)爭(zhēng)力的框架。 其次，在分析工程機(jī)械行業(yè)并購(gòu)的相關(guān)背景下，運(yùn)用案例分析法，對(duì)工程機(jī)械行業(yè)整體海外并購(gòu)過(guò)程進(jìn)行介紹。結(jié)合行業(yè)內(nèi)企業(yè)的并購(gòu)實(shí)踐，針對(duì)三一重工海外并購(gòu)德國(guó)普茨邁斯特的主要?jiǎng)訖C(jī)，分析三一重工海外并購(gòu)面臨的主要風(fēng)險(xiǎn)。 再次，本文根據(jù)構(gòu)建的整合框架，選取共生型整合方式，對(duì)三一重工海外并購(gòu)遇到的問(wèn)題進(jìn)行分析，并針對(duì)遇到的問(wèn)題提出相應(yīng)整合策略。運(yùn)用杜邦分析檢驗(yàn)三一重工海外并購(gòu)后的整合效果，梳理三一重工海外并購(gòu)后的核心能力的變化。 最后，根據(jù)三一重工的此次并購(gòu)的具體實(shí)踐，提出對(duì)我國(guó)工程機(jī)械行業(yè)海外并購(gòu)的相關(guān)建議。
[Abstract]:In 2012, the overseas mergers and acquisitions of Chinese enterprises began, followed by the construction machinery industry overseas mergers and acquisitions occupied an important position, accounting for 45% of the total manufacturing mergers and acquisitions. Without international operation experience, it is difficult to find out the real difficulties in the integration of overseas M&A. Therefore, this paper discusses the integration problems and experiences of overseas M&A of Chinese enterprises from the current successful cases of overseas M&A of construction machinery in order to provide better reference for other enterprises.
Firstly, based on the definition of core competence and integration and the dialectical relationship between them, this paper explores the origin of the value promotion of overseas M&A by integrating the core competence of enterprises and the integration of overseas M&A. The framework of integrated competitiveness is constructed from five aspects: the matching of strategy, the types of mergers and acquisitions, the purpose of mergers and acquisitions, the characteristics of assets and the needs of the acquired parties for organizational independence.
Secondly, in the context of M&A of construction machinery industry, this paper introduces the whole process of overseas M&A of construction machinery industry by using case analysis method.
Thirdly, according to the integration framework, this paper chooses the symbiotic integration mode to analyze the problems encountered in Sany Heavy Industry's overseas M&A, and puts forward the corresponding integration strategies.
Finally, according to the specific practice of Sany Heavy Industry's M&A, this paper puts forward some suggestions on overseas M&A of construction machinery industry in China.
【學(xué)位授予單位】：蘭州商學(xué)院
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F426.4;F271

【引證文獻(xiàn)】

相關(guān)期刊論文 前1條

1 朱亮羽;;工程機(jī)械企業(yè)海外并購(gòu)策略研究——以三一重工并購(gòu)德國(guó)普茨邁斯特為例[J];財(cái)政監(jiān)督;2015年11期

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