公司治理结构与跨国并购

Corporate Governance and International M&A

吸引跨国并购有利于改善外商直接投资的质量,完善公司治理结构。随着资本市场的逐步开放,中国传统的公司治理结构下所暴露出来的代理风险和国有资产流失问题日渐突出,治理观念和外部环境均难以满足跨国并购所需要的基本条件。而完善公司治理结构与制订吸引跨国并购双赢的政策措施,对降低企业并购成本,实现国际资本融合有着十分重要的现实意义。

Absorbing international merger and acquisition(M&A)will be favorable to the improvement of FDI quality and corporate gover- nance.Along with the gradual opening of capital market,such problems under our traditional corporate governance as agency risk and out- flow of nation-owned assets stand out.The present governance concept and capital environment can hardly satisfy the postulate required by M&A.So it is a meaningful policy research which can help to realize win-win both for corporate governance improvement and for M&A at- traction.