本文關(guān)鍵詞：樓市調(diào)控背景下我國房地產(chǎn)并購中的目標(biāo)企業(yè)選擇　出處：《鄭州大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

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【摘要】：2010年起的新一輪樓市調(diào)控對(duì)房地產(chǎn)市場(chǎng)產(chǎn)生了巨大的影響,房地產(chǎn)行業(yè)的并購數(shù)量迅速增加。房地產(chǎn)并購事件涉及金額大、影響范圍廣,正確地選擇合適的并購目標(biāo)企業(yè)對(duì)并購的成功有至關(guān)重要的作用。 本文第一章介紹了研究的背景和意義,理清了房地產(chǎn)并購中的相關(guān)概念,用資本集中理論、效率理論為選擇房地產(chǎn)并購目標(biāo)企業(yè)的研究框架提供理論支撐。第二章通過歸納梳理本次房地產(chǎn)并購熱潮的發(fā)展概況和并購特征,指出了主并企業(yè)并購戰(zhàn)略不清晰、目標(biāo)企業(yè)選擇不科學(xué)等房地產(chǎn)并購中普遍存在的問題,并針對(duì)上述問題,構(gòu)建房地產(chǎn)并購目標(biāo)企業(yè)研究框架。本文第三、第四章是論文的重點(diǎn)。其中第三章是第四章目標(biāo)企業(yè)選擇研究的前期準(zhǔn)備,強(qiáng)調(diào)對(duì)主并企業(yè)自身進(jìn)行深入分析,根據(jù)企業(yè)實(shí)際需求初步縮小目標(biāo)企業(yè)搜尋范圍。通過外部環(huán)境和企業(yè)內(nèi)部資源狀況分析,確保主并企業(yè)并購意圖符合企業(yè)發(fā)展戰(zhàn)略定位和具體并購目標(biāo)；進(jìn)而通過企業(yè)成長階段分析準(zhǔn)確定位并購戰(zhàn)略,并明確并購目標(biāo)企業(yè)路徑及實(shí)施程序。第四章針對(duì)目標(biāo)企業(yè)選擇的具體原則、流程和評(píng)價(jià)指標(biāo),對(duì)目標(biāo)企業(yè)的篩選進(jìn)行了流程優(yōu)化,更有利于企業(yè)節(jié)約并購時(shí)間和成本；通過藍(lán)光地產(chǎn)并購白藥置業(yè)的具體案例對(duì)整套目標(biāo)企業(yè)選擇問題進(jìn)行了實(shí)證檢驗(yàn),得出并購效益為正效應(yīng),驗(yàn)證了理論的適用性,有助于為類似企業(yè)的房地產(chǎn)并購工作提供參考和技術(shù)支持。第五章提出了相應(yīng)的對(duì)策和建議保障研究?jī)?nèi)容的順利應(yīng)用。 由此,房地產(chǎn)企業(yè)選擇并購目標(biāo)企業(yè)過程中,應(yīng)當(dāng)依據(jù)企業(yè)的發(fā)展戰(zhàn)略,依托“企業(yè)戰(zhàn)略-資源匹配”理論和模型,進(jìn)行詳實(shí)的并購戰(zhàn)略定位分析,采用科學(xué)合理的并購流程,基于STP的“成長階段-發(fā)展戰(zhàn)略矩陣”,明確目標(biāo)企業(yè)并購路徑,將會(huì)為主并企業(yè)節(jié)約并購時(shí)間和成本,提高并購成功率,提升目標(biāo)企業(yè)并購后的融合度。
[Abstract]:Since 2010, a new round of real estate regulation and control has had a great impact on the real estate market, the number of real estate mergers and acquisitions has increased rapidly. The real estate M & A events involve a large amount of money and a wide range of impact. It is very important for the success of M & A to select the right M & A target enterprises correctly. The first chapter introduces the background and significance of the research, clarifies the related concepts of real estate mergers and acquisitions, and uses the theory of capital concentration. Efficiency theory for the choice of real estate M & A target enterprise research framework to provide theoretical support. Chapter two summarizes the development of the real estate M & A boom and the characteristics of M & A. This paper points out the common problems in real estate M & A, such as unclear merger strategy and unscientific choice of target enterprises, and constructs the research framework of real estate M & A target enterprises in view of the above problems. The third part of this paper. Chapter 4th is the focus of the thesis. The third chapter is the preliminary preparation for the study of target enterprise selection in Chapter 4th, emphasizing the in-depth analysis of the main and the enterprise itself. According to the actual demand of the enterprise, the search scope of the target enterprise is reduced preliminarily. Through the analysis of the external environment and the internal resources of the enterprise, it is ensured that the intention of the merger and acquisition of the main and concurrent enterprise accords with the strategic orientation of the enterprise's development and the specific. Then through the enterprise growth stage analysis of accurate positioning of M & A strategy, and clear M & A target enterprise path and implementation procedures. 4th chapter for the target enterprise selection specific principles, processes and evaluation indicators. The selection of target enterprises is optimized, which is more beneficial to save the time and cost of M & A. Through the blue light real estate merger and acquisition of white medicine real estate specific case to the entire set of target enterprise selection empirical test, the M & A benefits as a positive effect, verify the applicability of the theory. It is helpful to provide reference and technical support for the real estate merger and acquisition of similar enterprises. Chapter 5th puts forward the corresponding countermeasures and suggestions to ensure the smooth application of the research content. Therefore, in the process of choosing the target enterprises, the real estate enterprises should base on the development strategy of the enterprises, rely on the theory and model of "enterprise strategy-resource matching", and carry out detailed strategic positioning analysis of M & A. The adoption of scientific and reasonable M & A process, based on STP's "growth-development strategy matrix", clear target enterprise M & A path, will mainly save time and cost of M & A, improve the success rate of M A. Enhance the integration of target enterprises after M & A.
【學(xué)位授予單位】：鄭州大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F299.23;F271

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