我国种业企业并购绩效及发展路径分析

发布时间：2018-03-13 22:17

本文选题：种业企业　切入点：并购绩效　出处：《北方工业大学》2015年硕士论文　论文类型：学位论文

【摘要】：从宏观角度看,企业并购可以优化资源配置,调整产业结构；从微观角度看,企业并购可以迅速扩大企业规模、提高市场竞争力。我国种业存在产业集中度低、企业规模小、经营实力弱、研发投入不足等一系列问题,与国外种业相比有着巨大的差距,2012年中央一号文件明确提出：“优化调整种子企业布局,提高市场准入门槛。推动种子企业兼并重组,鼓励大型企业通过并购、参股等方式进入种业。”在这种背景下,我国种业企业将迎来并购浪潮。但是并购是一把双刃剑,一方面,它能够拓宽种业企业的发展空间,有利于企业做大做强；另一方面,如果企业的并购准备不够充足,并购后不能合理整合内部资源,可能会导致资产流失,降低企业绩效,甚至有可能破坏我国种业的健康发展。因此分析我国种业企业的并购绩效至关重要。本文首先指出我国种业企业的并购动因,指出并购重组的必要性。随后结合我国种业企业的特点,提出适用于我国种业企业并购绩效的考核指标及影响因素,主要应用财务指标和非财务指标对并购绩效进行评价,反映企业并购前后的盈利能力、营运能力、成长能力、偿债能力、研发能力、市场份额以及经营范围的变化情况。接着总结了我国种业企业并购绩效的现状,并加入荃银高科案例进行深入分析。最后,结合我国种业企业并购绩效现状及存在的问题,提出了提高我国种业企业并购绩效的实施路径：第一,加强种业企业间并购重组,积极整合产业链；第二,并购后应注重内部资源的整合；第三,并购后增强企业研发能力,加大研发投入；第四,通过合作模式开拓国际市场；第五,企业应积极地进入国家种业科技成果产权交易平台进行交易；第六,完善政府相关政策。
[Abstract]:From the macro point of view, M & A can optimize the allocation of resources and adjust the industrial structure. From the micro point of view, M & A can rapidly expand the scale of enterprises and improve market competitiveness. A series of problems, such as weak management strength and insufficient R & D investment, have a huge gap compared with the foreign seed industry. In 2012, the No. 1 document of the Central Committee clearly stated: "optimize and adjust the distribution of seed enterprises, raise the threshold of market access, and promote the annexation and reorganization of seed enterprises." Large enterprises are encouraged to enter the seed industry through mergers and acquisitions and share participation. "in this context, the seed industry enterprises in our country will usher in a wave of mergers and acquisitions. But M & A is a double-edged sword. On the one hand, it can broaden the development space of seed industry enterprises." On the other hand, if the enterprise is not prepared enough for M & A and can not reasonably integrate internal resources after M & A, it may lead to the loss of assets and reduce the performance of the enterprise. It may even destroy the healthy development of Chinese seed industry, so it is very important to analyze the M & A performance of Chinese seed industry enterprises. This paper first points out the causes of M & A of seed enterprises in China, and points out the necessity of M & A. Then, combining with the characteristics of seed enterprises in China, the paper puts forward the evaluation indexes and influencing factors suitable for the M & A performance of seed enterprises in China. The main use of financial indicators and non-financial indicators to evaluate the performance of M & A, reflecting the profitability, operating capacity, growth capacity, solvency, R & D capacity of enterprises before and after mergers and acquisitions, The market share and the change of the scope of operation. Then summarized the current situation of M & A performance of seed industry enterprises in China, and joined the case of Tsuen Silver Hi-Tech for in-depth analysis. Finally, combined with the current situation and existing problems of seed industry M & A performance in China, the paper puts forward the implementation path of improving the performance of seed industry M & A: first, strengthen the merger and reorganization among seed enterprises, and actively integrate the industrial chain; second, After M & A, we should pay attention to the integration of internal resources; third, enhance the R & D capacity of enterprises after M & A; increase R & D investment; 4th, develop the international market through cooperation mode; 5th, Enterprises should actively enter the national seed industry technology achievements trading platform for transactions; 6th, improve the relevant government policies.
【学位授予单位】：北方工业大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F324.6;F271

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