摘要
近几年来,实力雄厚的中国大企业纷纷"走出去"实施跨境投资,并购交易日渐活跃。然而在国际政治环境错综复杂、全球经济高度一体化以及市场竞争不断加剧的背景下,发起并购交易并不困难,但交易后如何实施治理整合却极具挑战。虽然收购方的价值观和文化影响力、市场地位、核心竞争力等因素在并购整合中发挥着重要作用,但指引并购整合实施的战略本身,则是影响并购成败和绩效达成的直接原因。除了研究众多历史案例来寻找一些经验借鉴之外,中国企业在制定并实施战略整合时鲜有理论可依和清晰方法可循。本文采用比较和归纳分析法,创新提出涵盖公司愿景与定位、商业模式、经营战略与目标、人事与激励、战略实施、战略优化及整合战略之上等因素相互作用的战略整合七要素法。系统全面地研究并购后的战略整合之策,具有非常直观的理论和现实指导意义。
Recently, Chinese enterprises ＂going out＂ to implement cross-border investment by merger and acquisition（MA（ has become increasingly active. Launching an MA transaction is not difficult for us at time for now, but the succedent integration and management are very challenging, especially in the most complex international political environment under such integrated economy as well as the most competitive global market. Although the factors playing very important roles on integration are these of acquirer＇s value and company cultural influence, their core competitiveness, etc., the one as practical guidance as the integration strategy itself is the direct factor towards a successful MA integration by achieving targeted performance. Except for recapping numerous historical cases to learn some experiences, there are few theoretical and practicable tactics to apply for those go-global enterprises when they make their MA integration strategies. In this paper, by conducting comparison and inductive analysis, we innovatively put forward the Seven-Elements-Method to figure and establish specific integration strategy. Those seven elements are company＇s mission and positon, business mode, operation strategy and objectives, human resources and motivation, strategy implementation, strategy optimization and the activities beyond integration itself. Through very comprehensively and systematically study, a theoretical and practicable framework is proposed directly to carry out some tactics of integration strategy.
出处
《产业经济评论》
2016年第6期87-104,共18页
Review of Industrial Economics
关键词
并购
整合战略
七要素法
并购绩效
B计划
Merger and Acquisition
Integration Strategy
Seven-Factors Methods
Merger and Acquisition Performance
Plan B
