试论国外市场进入方式选择的影响因素

Discussion on the Influential Factors of the Modes' Choice of Entry into a Foreign Market

并购对于现代公司来说是一种很流行的战略,代表了战略扩张的一个重要转变,技术进步和全球化极大地促进了并购和跨国并购的流行。但是跨国并购并不是进入外国市场的唯一最佳方式,新建投资、跨国并购、合资三种基于资产型的进入外国市场的方式各有长短。从公司层次、产业层次、国家层次三方面对影响新建投资、跨国并购、合资方式选择的因素进行分析,企业进入外国市场选择哪种方式应就具体情况而定,不应盲目跟风。

Mergers and acquisitions （M＆As）is a popular strategy for modern firms and represent an important alternative for strategic expansion. Technological development and globalization have vastly contributed to the popularity of M＆As and cross-border M＆As. Crossborder M＆As isn＇t the only best mode of entry in a foreign market, however, greenfield, crossborder M＆As,joint ventures are equity-basod modes,and each of them has advantages and shortages. This paper analyses the firm-, industry-, and country-level factors that often influence the choice of a greenfield or cross-border M＆As or joint venture as a mode of entry into a foreign market, and points out the choice of entry mode should be determined by each specific conditions, and shouldn＇t follow the popularity blindly.