论企业并购战略与效应-政治经济学专业论文.docxVIP

摘 摘 要 国际新一轮兼并浪潮有着显著的特点，表现为全球性、非 投机性、相关专业领域的强强联合等。喳国全业在兼并其他企业 的同时，大举出售和转让那些与本企、止不相关的多元化产业。然 而我国近几年上市公司的购并案却以跨行业、跨产、Ik的多角化经 营即混合兼并居多。混合兼并是否能给兼并企业带来预期的收 益，与兼并的动机、兼并主体的行为特征以及兼并的必备条件有 密切关系。本文期望通过理论与实证分析相结合的方法，对兼并 的动机、绩效特别是混合兼并的绩效和条件作些分析，对我国企 业兼并决策提出一些建议，使仑业兼并逐步从尝试、摸索的初级 阶段向更高层次迈进。 本文分五部分。第一章，结合当前国际兼并潮流和特点， 并介绍我国兼并的背景，特点，提出本文的研究意义。第_章， 分析企业兼并的前提、动机和效应，为以后的理论分析和实lIE研 究作铺陈。第三章，通过实证的方法，为理论说明提供依据。第 四章，进一步分析实证研究的结果，阐述兼并的箍件和效应。第 五章，提出解决思路，兼并机制改革是提高兼并效益的前提，氽 业兼并应该以构建企业核心能力为战略。 睡。／， 关键词：l并购(战略 效应／， 分类号：F d了／ ABSTRACTA ABSTRACT A new round of international WaVeS of merger has such outstanding charactefistics global non．speculative，recombined of good enterprises of relative industry．However,recent years in country,most ofMergerAcquisition on stock market of multivariate mixed consolidation，extending across different gade and industry．Whether the mixed consolidation will bring the expected profit or laut largely depends the motivation，merger subjects’character,and essential condkion This thesis is to give some advice merger,to try to find out new ways from the junior phase after making analysis motivation，effect especially effect and condition of mixed consolidation by the means oftheoretical and positive analysis The thesis is composed offive parts Part one gives introduction ofbackground，characteristics of merger in country combined with international circumstances then points out the significance of study Part two makes analysis condition，motivation and effect of merger, foreshadowing the later parts Parts three provides positive analysis Parts four makes further study ofpositive analysis，elaborating the condition and effect of mixed consolidation Part five point out the ways to solve the problem．The profit of merger should be based reformation ofpropeny right system Enterprises’merger should strategically aim at the constructing the core capability of enterprises Key Words：merger condition motiration effect 序 序 言 企业的发展通过何种形式来实现，通常有两种方式可供选 择：一是通过改善经营管理，提高企业内部资源配置的效率； 另一个是通过资本市