中国企业跨国并购后的整合模式——以吉利集团并购沃尔沃汽车为例

The Integration Modes of Chinese Firms' Cross-border M&A:A Case Study of Geely Auto and Volvo Cars

本文通过对中国吉利集团跨国并购瑞典沃尔沃汽车后整合过程的案例研究,揭示出中国企业在并购全球领先企业时的一种有效整合方式:并购双方应维持企业文化、运营模式、企业内部管理系统的独立性,以保护被并购全球领先企业的品牌价值,降低文化冲突,减少企业间调和成本;并积极地融合技术创新能力、促进全球规模化生产以及基础资源共享,追求整合的协同效应,增强核心竞争力。本文提出,并购交易完成后迅速、简洁、明确的战略定位及组织间交流机制的确立是中国企业跨国并购整合成功的关键影响因素之一。

This paper took an in-depth case study of a cross-border merger and acquisition （M＆A） between Geely Auto and Volvo Cars, finding that a rapid settlement and careful implementation of strategies and control systems help to avoid problems associating with post M＆A management. The M＆A should maintain the corporate culture,business model, the independence of the internal management system, to protect the acquisition of the world＇s leading brand value, reduce cultural conflicts and decrease the cost of inter-business. Moreover, it should also actively integrate technological innovation capability, promote global large-scale production and basic resource sharing, pursue integrated synergies and enhance core competitiveness. This paper also pointed out that there are two of the key factors influencing the success ＇of cross-border mergers and acquisitions of Chinese enterprises, namely the rapid, concise and clear strategic positioning and the establishment of the inter-organizational communication mechanism after the completion of M＆A transactions.