央企“走出去”——海外并购公司的管理模式研究

发布时间：2018-01-23 22:15

本文关键词： 央企集团管控模式战略管控财务管控人力资源管控　出处：《管理评论》2017年10期 　论文类型：期刊论文

【摘要】：在企业集团管控的内容及模式相关研究的基础上,通过对ZH工业汽车集团收购NX公司后整合管控的研究,本文提出央企集团收购海外优质企业的"任命授权—责任中心—战略管控"的管控模式框架。这一类并购目标公司与央企集团的资源相似性弱互补性强,在相同行业中居于领先地位。相对应的管控中将对子公司现金管控为特点的"分权式"财务管控作为模式的关键抓手。集团通过设立"责任中心"明确各方权责,并以此为基础通过投资活动引导公司发展与集团战略相契合。人力资源管控是管控体系的保障,央企集团应通过派驻董事会成员以及完善重大事项授权机制保障"责任中心"制度服务于集团战略,并在管理人员和员工选拔上赋予子公司更多自主性,以维护经营团队稳定和多元。央企集团对子公司的战略管控应以在公司层面引导子公司与集团对当前环境下投资战略选择的认知契合为目标所在,避免对其职能、项目层面的战略制定过分干预。
[Abstract]:On the basis of the related research on the content and mode of enterprise group control, this paper studies the integration control after the acquisition of NX company by ZH Industrial Automobile Group. This paper puts forward the management model framework of "appointing authorization-responsibility center-strategic control" for the acquisition of overseas high quality enterprises by the central enterprise group. The resource similarity between this kind of target company and the central enterprise group is weak and complementary. Leading position in the same industry. The "decentralized" financial control, characterized by cash control of subsidiaries, is the key to the model. The group has established a "responsibility center" Define the rights and responsibilities of all parties. And on this basis through investment activities to guide the development of the company and the group strategy in line with the human resources management and control system is the guarantee. The central enterprise group should ensure the "responsibility center" system to serve the group strategy by assigning board members and perfecting the authorization mechanism of major matters, and endow the subsidiary with more autonomy in the selection of managers and employees. In order to maintain the stability and diversity of the management team, the strategic control of the subsidiaries should be directed at the corporate level to guide the understanding of the strategic choice of investment in the current environment. Avoid excessive intervention in the formulation of project-level strategies for their functions.
【作者单位】：北京航空航天大学人文社会科学学院;中国科学院大学经济与管理学院;
【分类号】：F271;F426.471
【正文快照】： 引言2015年,我国企业实现海外并购金额877亿美元,较上年同期增长超过40%,而2016年仅上半年这一数字就达到1340亿美元。在国家推行“一带一路”的宏观战略环境下,中国企业的海外并购正在释放多重改革红利和发展红利。然而研究显示,在完成并购后,标的公司只有13%盈利可观,多数企

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