中国企业海外并购合法性获取研究

The Legitimacy Acquisition of Chinese Enterprises’Overseas M&A

近年来,中国企业在海外并购过程中屡屡遇到合法性问题。由于受到外来者劣势、来源国劣势、刻板印象效应、前置战略和资产敏感性等因素的影响,中国企业的合法性呈现出综合性和复杂性的特征。为了获取合法性,政府和企业两个层面要同时发力。从政府层面来说,要积极地改善制度环境,稳步推进国家形象建设,积极践行人类命运共同体的理念;从企业层面来说,应不断构建社会网络,积极获取社会资本,科学地制定并购策略和合法化获取策略。此外,中国提出构建人类命运共同体的理念,根植于中国自古以来的"大一统"的世界观;中国企业在东道国构建社会网络的活动,又与中国社会的"关系"文化和"圈子"文化密切相关,中国企业采取的合法性获取策略呈现出典型的中国特色。

Chinese enterprises often encounter legitimacy problems in the process of overseas M&A in recent years.The legitimacy of Chinese enterprises presents a comprehensive and complex feature as a result of the outsider disadvantage,source country disadvantage,stereotype effect,pre-strategy and asset sensitivity.In order to obtain the legitimacy,the government and the enterprise should work at the same time.The government should actively improve the institutional environment,steadily construct the national image,and actively practice the concept of a community with a shared future for mankind.Enterprises should continue to build social networks,actively acquire social capital,and scientifically formulate M&A strategies.In addition,China proposes the concept of building a community of shared future for human beings,rooted in China’s“unified”world outlook.The activities of Chinese enterprises in building social networks in the host country are closely related to the culture of Chinese society.The legitimacy acquisition strategy adopted by Chinese enterprises presents typical Chinese characteristics.