外资并购对我国服务企业竞争力的影响研究

发布时间：2019-01-11 10:12

【摘要】：在二十世纪中叶以后，服务业的快速崛起成为世界经济发展的显著特征，发达国家的经济重心向服务业转移，呈现“服务经济”时代。经济全球化掀起的跨国并购浪潮中，服务业成为国际直接投资与产业转移的焦点，其跨国并购的金额占到跨国并购总额的百分之五十以上。外资并购在我国服务业的扩张趋势将明显加快，这能够刺激我国的经济发展，，提升我国服务业的整体水平，也使得我国服务业被并企业学习到跨国公司先进的技术和规范的管理制度，提高自身的竞争力水平，在国际市场的竞争中获取更多机遇。外资并购虽然可以为我国服务企业创造更多的国际竞争条件，优化企业内部资源配置，但是也不可避免会给我国服务企业带来更多的挑战。本文在研究了大量外资并购和服务企业竞争力文献资料的基础上，分析了我国服务业发展现状和服务业外资并购的总体情况。根据前人的研究总结设计了我国服务企业竞争力的评价指标体系，包含了市场规模竞争力、经济效益竞争力、企业成长竞争力、风险偿付竞争力、资产运营竞争力和管理创新竞争力六个方面，并选取了2000年至2008年间我国被跨国公司并购的47家服务企业作为研究对象，运用因子分析法和雷达图法分析了总体样本在并购前一年至并购后三年的企业竞争力均值变化。另外，利用非参数检验的方法针对并购的相关特征因素如并购类型、关联交易、股权性质、控制权转移、所属行业进行分析检验，观察这些因素差异在跨国公司并购我国服务企业后对样本企业竞争力的影响，其中并购类型、所属行业等因素得到了显著性检验。根据实证研究结论，提出我国服务企业应对并购的相关政策建议，加快健全我国有关外资并购的法律体系，明确外资实施关联并购的动机，引导外商企业进行战略性的并购，加强对企业控制权的监管，适度约束外资并购行为，注重纵向并购的资源整合，不断提升我国服务企业自身实力，推动产业结构升级。
[Abstract]:After the middle of the 20th century, the rapid rise of the service industry has become a remarkable feature of the world economic development. The economic center of the developed countries has shifted to the service industry, presenting the era of "service economy". In the wave of transnational M & A caused by economic globalization, the service industry has become the focus of international direct investment and industrial transfer, and the amount of cross-border M & A accounts for more than 50% of the total amount of cross-border M A. The expansion trend of foreign capital mergers and acquisitions in China's service industry will obviously accelerate, which can stimulate the economic development of our country and raise the overall level of our service industry. It also makes the service industry of our country learn from the advanced technology and standardized management system of multinational corporations, improve their own competitive level, and gain more opportunities in the international market competition. Although foreign M & A can create more international competitive conditions and optimize internal resource allocation for our service enterprises, it will inevitably bring more challenges to our service enterprises. On the basis of studying a large number of documents on foreign capital M & A and service enterprises' competitiveness, this paper analyzes the present situation of service industry development and the overall situation of foreign capital M & A in service industry. According to the previous studies, this paper designs the evaluation index system of the competitiveness of our service enterprises, including market scale competitiveness, economic efficiency competitiveness, enterprise growth competitiveness, risk reimbursement competitiveness. There are six aspects of the competitiveness of asset operation and management innovation, and 47 service enterprises which were acquired by multinational corporations from 2000 to 2008 are selected as the research objects. Factor analysis method and radar chart method are used to analyze the change of the average competitiveness of the total sample from one year before the merger to three years after the merger. In addition, the non-parametric test method is used to analyze and test the relevant characteristic factors of M & A, such as the type of M & A, related transaction, equity nature, transfer of control rights, industry, etc. This paper observes the influence of these factors on the competitiveness of the sample enterprises after M & A of our country's service enterprises, among which the types of M & A, the industry and other factors have been significantly tested. According to the conclusion of the empirical research, this paper puts forward the relevant policy suggestions of Chinese service enterprises to deal with M & A, accelerates and perfects the legal system of foreign M & A in China, clarifies the motivation of foreign capital to carry out related M & A, and guides foreign enterprises to carry out strategic M & A. We should strengthen the supervision of the control right of enterprises, appropriately restrain the behavior of foreign M & A, pay attention to the integration of resources in vertical mergers and acquisitions, constantly improve the strength of Chinese service enterprises and promote the upgrading of industrial structure.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F719

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