基于价值链的跨国并购整合——对上汽通用五菱并购整合的研究

Research of M&A Integration Based on Value Chain: An Empirical Analysis of SGMW

随着汽车制造业的全球化发展和我国汽车市场的高速增长,世界主要汽车集团和公司全部通过合资或并购到我国投资生产,对我国汽车工业的发展产生了重要影响。从价值链整合的视角,分析了通用汽车公司与上海汽车公司、柳州五菱汽车股份有限公司三方合资建立的上汽通用五菱汽车股份有限公司(SGMW)的并购整合,提出了基于价值链的跨国并购整合的基本模式,并探讨了SGMW基于价值链跨国并购整合的经验对我国合资企业发展的启示。

With the development of production globalization of the auto manufacture and the fast increase of China＇s auto market,most of the auto groups and enterprises of the world came into China to invest and produce by merger and acquisition,which have made an important influence to China＇s auto industry. According to the analysis of the M＆A Integration of SGMW（SAIC- GM-Wuling Automobile Co. , Ltd） based on value chain,which is cooperated by Shanghai Automobile industry （Group）Company,General Motors and Wuling Automobile Co, Ltd,this paper not only points out the basic mode of M＆A integration based on value chain,but also probes into the developing inspiration to China＇s joint venture company from the experience of SGMW.