中国资源型企业的对外直接投资模式分析与案例研究

发布时间：2018-02-11 19:04

本文关键词： 对外直接投资模式资源型企业案例分析　出处：《湖南大学》2014年硕士论文　论文类型：学位论文

【摘要】：近年来，我国的对外直接投资规模持续增长，而资源型对外直接投资正是推动这一增长的主要力量。然而，，我国资源型企业进入对外直接投资领域的时间较晚，在规模上与经验上都落后于发达国家的同类型企业，所以想要在国际资源竞争中胜出，选择适合的对外直接投资模式至关重要。本文从国内外背景出发，对中国资源型企业的对外直接投资进行了SWOT分析，并总结了中国资源型企业对外直接投资的发展现状，发现其对外直接投资具有投资规模大且单笔交易金额高、投资主体以国有企业为主、投资区域集中、投资方式较为单一等特点。随后，本文以竞争优势理论与投资诱发要素理论为理论基础，从我国资源型企业的竞争优势与被投资企业所具备的投资诱发要素出发，将我国资源型企业的对外直接投资模式分为基于资本优势的资源诱发型、基于资本-技术优势的资源诱发型、基于资本优势的资源-技术-管理诱发型与基于资本-技术优势的资源-技术-管理诱发型这四种类型，并总结了每种类型的代表模式，对每种模式的优劣、适用范围及典型案例进行了对比分析，为我国资源型企业的对外直接投资模式选择提出了建议。最后，本文以中海油的对外投资历程为典型案例，将其近年来的主要对外直接投资项目进行了总结和分类，发现中海油在对外直接投资中主要采用的是跨国并购模式。在此基础上，选取中海油收购优尼科和尼克森的经历为重点分析对象，从对过去的失败和如今的成功的对比分析中，总结出中海油在对外直接投资模式选择方面值得其他资源型企业借鉴的经验。
[Abstract]:In recent years, the scale of China's foreign direct investment (OFDI) has continued to increase, and resource-based FDI is the main force to promote this growth. However, the time of China's resource-based enterprises entering the field of OFDI is relatively late. In scale and experience, enterprises of the same type lags behind those of developed countries, so it is very important to choose suitable mode of FDI in order to win in the competition of international resources. Based on the domestic and foreign background, this paper makes a SWOT analysis on the foreign direct investment of Chinese resource-based enterprises, and summarizes the current situation of the development of the foreign direct investment of the resource-based enterprises in China. It is found that the OFDI has the characteristics of large scale of investment, high single transaction amount, the main investment body is state-owned enterprises, the investment region is concentrated, and the investment mode is relatively single. Then, based on the theory of competitive advantage and the theory of investment inducing factors, this paper starts from the competitive advantage of our country's resource-based enterprises and the investment inductive elements of the invested enterprises. The foreign direct investment model of resource-based enterprises in China is divided into resource-induced type based on capital advantage and resource-induced type based on capital-technology advantage. The four types of resource-technology-management inducement based on capital advantage and resource-technology-management-induced type based on capital-technology advantage are summarized, and the advantages and disadvantages of each model are summarized. The scope of application and typical cases are compared and analyzed, and some suggestions are put forward for China's resource-based enterprises to choose their foreign direct investment modes. Finally, this paper summarizes and classifies the main foreign direct investment projects of CNOOC in recent years, taking the course of overseas investment of CNOOC as a typical case. It is found that Cnooc mainly adopts the mode of cross-border merger and acquisition in OFDI. On this basis, the experiences of CNOOC acquiring Unocal and Nexen are selected as the focus of analysis, and from the comparative analysis of past failures and present successes, Summing up the experience of Cnooc in the choice of FDI mode for other resource-based enterprises.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F279.2;F125.4

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