技术获取型跨国并购的控制权研究

Effect Factors of Acquiring Control in Technology Sourcing Cross-border M&A:Theoretical Exploration

随着我国企业扩张加快,跨国并购研究受到重视。在跨国并购谈判过程中,控制权是对目标企业投资时的组织架构以及以后公司治理最为关键部分。以往的研究把所有权与控制权等同,然而越来越多研究显示,新兴国家企业以技术获取为目的的跨国并购中,目标企业的所有权与控制权并不一致,而跨国并购行动的关键在于控制权。集中以交易本身作为研究对象,首先对跨国并购等控制权研究进行梳理并综述,指出现有研究的局限性,并对我国企业跨国并购控制权的未来的研究方向提出理论框架。

With enterprise accelerating internationalization process, more and more research find that during the cross - border M＆A negotiation, the control is the most important factor. Previous research thinks that the ownership and control right are equal, but more and more researches show, particularly in cross -border M＆A that the target enterprise~ owner- ship and control are not the same. The paper firstly reviews the traditional theory of acquiring cross - border M＆A control and ownership. And it then puts forward a theoretical framework of Chinese firms＇ cross - border M＆A acquiring control, which is based on motive and institutions differences to improve the traditional theorv.