中外企业跨国并购的比较研究

Comparison between Chinese and Foreign Enterprises' Cross-border Merger and Acquisition

中国企业进行跨国并购呈现出并购金额不断扩大、并购行业更加广泛、单项并购标的额趋于上升等特点。中外企业在跨国并购的主要动因、并购战略、并购主客体、并购的主导行业、并购的支付方式等方面存在着巨大差异。中国企业在今后的跨国并购中必须转变并购战略,重塑并购主体,多采用现金支付手段,充分发挥国际中介机构作用,政府应制定和完善跨国并购的相关政策和措施。

Chinese enterprises cross-border merger and acquisition（M＆A） show a growing amount of money, industry more widely, the amount of subject tend to rise, and so on. There is a huge difference of the main causes, acquisition strategy, the main object of M＆A, the leading industry M＆A, method of payment and so on in Chinese and foreign enterprises transnational M＆A. Chinese enterprises in the future must change M ＆ A strategy, reshape the M ＆ A main, to achieve full use of means of payment, and give full play to the role of international intermediaries. The government should formulate and perfect transnational M＆A of related policies and measures.