摘要
为了扩展东道国制度环境对跨国并购战略影响方面的理论和研究,以2011-2012年美国商务部驻华机构针对450家美资跨国公司所做的问卷调查为样本,以"活跃度"和"完成率"两层指标考察美资跨国公司在华并购的状态,用22个涉及了执法、行政、海关、商业公平性、市场成熟度、基础设施建设、人力资源、知识产权保护等各个方面的子维度来测度中国的制度环境,通过实证研究的方法验证了跨国公司在华的"制度套利"倾向、中国的制度环境对于跨国并购可能存在的一些"制度陷阱"以及"反腐与反欺诈"在其中的调节作用。
In order to extend the current theory and studies on the institutional influence of a given host country on the cross border.Mergers & Acquisitions targeting the host country, this paper utilized a survey about 450 US firms investing and operating situations in China from 2011--2012 conducted by American Chamber of Commerce,measured the cross border status of US firms in China by two indi- cators, which were the US firms" vitality to propose cross border M&A deals and the completion rate of the US firms" cross border M&A deals in China,and divided the institutions in China into 22 dimen- sions, including bureaucracy, human resources, business fairness, market maturity, infrastructure,in- tellectual property protection,litigation, etc, to empirically test the existence of "institutional trap", which transnational companies would encounter in China, the propensity to "arbitrage among institu- tions",that transnational corporate might have in China, and the moderating effect of China's anti-- corruption and anti-fraud campaign.
出处
《武汉理工大学学报(社会科学版)》
CSSCI
2015年第3期394-401,共8页
Journal of Wuhan University of Technology:Social Sciences Edition
基金
教育部人文社会科学研究规划基金项目(13YJA630017)
对外经济贸易大学研究生科研创新基金资助
关键词
东道国
跨国并购
制度环境
制度套利
制度陷阱
host country
cross border M &A
institution environment
arbitrage among institutions
institutional trap