發(fā)布時(shí)間：2019-03-08 22:27

【摘要】：伴隨著經(jīng)濟(jì)全球化的深入,我國制造業(yè)通過逐步實(shí)現(xiàn)跨國并購走向經(jīng)濟(jì)全球化.因此,跨國并購是我國制造業(yè)實(shí)現(xiàn)對(duì)外投資的主要方式。雖然我國目前的經(jīng)濟(jì)總量僅次于美國,但從權(quán)威機(jī)構(gòu)發(fā)布的數(shù)據(jù)可知,目前中國制造業(yè)跨國并購公司的數(shù)量并不高,且制造業(yè)整體的并購質(zhì)量及水平偏低。當(dāng)然,同時(shí)我們也應(yīng)看到,隨著我國經(jīng)濟(jì)的飛速發(fā)展,我國進(jìn)出口順差數(shù)額加大帶來的我國外匯儲(chǔ)備量的激增,這種現(xiàn)象為我國制造業(yè)跨國并購提供了資產(chǎn)支持。本文先簡(jiǎn)要回顧了西方跨國并購理論及相關(guān)的跨國并購動(dòng)因理論,又根據(jù)相關(guān)的案例及數(shù)據(jù),對(duì)我國制造業(yè)跨國并購的現(xiàn)狀進(jìn)行分析總結(jié),在結(jié)合我國制造業(yè)跨國并購發(fā)展歷程的基礎(chǔ)上,具體分析了中國制造業(yè)跨國并購目前存在的主要問題。第四、五部分是本文論述的重點(diǎn),分別從我國制造業(yè)跨國并購的內(nèi)部動(dòng)因及外部因素進(jìn)行詳細(xì)解析。外部動(dòng)因的分析方法是,運(yùn)用1994-2012年間我國制造業(yè)跨國并購額、人均GDP、外匯儲(chǔ)備額以及出口額的宏觀經(jīng)濟(jì)數(shù)據(jù),繪制趨勢(shì)分析圖。從趨勢(shì)圖的走勢(shì)分析可知,人均GDP、外匯儲(chǔ)備以及出口規(guī)模都與中國制造業(yè)進(jìn)行跨國并購額都具有正相關(guān)的關(guān)系。從企業(yè)層面進(jìn)行分析,是本文對(duì)我國制造業(yè)跨國并購的內(nèi)部動(dòng)因分析法。先結(jié)合西方現(xiàn)有的跨國并購動(dòng)因理論,對(duì)企業(yè)獲得國外資源、學(xué)習(xí)先進(jìn)技術(shù)、實(shí)現(xiàn)多元化經(jīng)營、規(guī)避貿(mào)易壁壘等自身內(nèi)部動(dòng)因進(jìn)行闡述,接著分析聯(lián)想集團(tuán)并購IBM案例,對(duì)我國制造業(yè)跨國并購內(nèi)部動(dòng)因的分析提供了案例支持。最后,本文的寫作目的是,在我國制造業(yè)跨國并購內(nèi)、外部動(dòng)因分析的基礎(chǔ)上,結(jié)合前文提出的中國制造業(yè)跨國并購現(xiàn)存的主要問題,分別從政府和企業(yè)層面提出了相關(guān)的對(duì)策建議,如政府金融支持、國家技術(shù)援助和企業(yè)人才的培養(yǎng)等各個(gè)方面。
[Abstract]:With the deepening of economic globalization, China's manufacturing industry gradually realizes cross-border mergers and acquisitions towards economic globalization. Therefore, cross-border M & A is the main way to realize foreign investment in China's manufacturing industry. Although the total economic volume of China is second only to the United States at present, according to the data released by authoritative organizations, the number of transnational M & A companies in China's manufacturing industry is not high at present, and the quality and level of M & A in the manufacturing industry as a whole are on the low side. Of course, at the same time, we should also see that with the rapid development of China's economy, the increase of China's import and export surplus brought about the surge of China's foreign exchange reserves, this phenomenon provides asset support for China's manufacturing cross-border mergers and acquisitions. This paper briefly reviews the western cross-border M & A theory and the related theories of the motivation of cross-border M & A, and then, according to the relevant cases and data, analyzes and summarizes the current situation of transnational M & A in China's manufacturing industry. Based on the development process of China's manufacturing cross-border M & A, this paper analyzes the main problems existing in China's manufacturing cross-border M & A. The fourth, the fifth part is the focus of this paper, respectively from the internal causes and external factors of China's manufacturing cross-border M & A are analyzed in detail. The analysis method of external motivation is to draw the trend analysis chart by using the macroeconomic data of China's manufacturing cross-border M & A, per capita GDP, foreign exchange reserve and export during 1994-2012. From the trend chart analysis, it can be seen that the per capita GDP, foreign exchange reserves and export scale have a positive correlation with the amount of cross-border M & A in China's manufacturing industry. The analysis from the enterprise level is the internal motivation analysis method of China's manufacturing cross-border M & A. Based on the existing theory of motivation of cross-border M & A in the West, this paper expounds the internal motivation of enterprises in obtaining foreign resources, learning advanced technology, realizing diversification, avoiding trade barriers and so on, and then analyzes the case of M & A IBM of Lenovo Group. This paper provides case support for the analysis of internal causes of cross-border M & A in China's manufacturing industry. Finally, the purpose of this paper is to analyze the external causes in China's manufacturing cross-border M & A, combined with the main existing problems of China's manufacturing cross-border M & A, which was put forward earlier. From the level of government and enterprise, some suggestions are put forward, such as government financial support, national technical assistance and the cultivation of enterprise talents and so on.
【學(xué)位授予單位】：天津財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F271;F425

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