楼市调控背景下我国房地产并购中的目标企业选择

发布时间：2018-01-13 02:17

本文关键词：楼市调控背景下我国房地产并购中的目标企业选择　出处：《郑州大学》2014年硕士论文　论文类型：学位论文

【摘要】：2010年起的新一轮楼市调控对房地产市场产生了巨大的影响,房地产行业的并购数量迅速增加。房地产并购事件涉及金额大、影响范围广,正确地选择合适的并购目标企业对并购的成功有至关重要的作用。本文第一章介绍了研究的背景和意义,理清了房地产并购中的相关概念,用资本集中理论、效率理论为选择房地产并购目标企业的研究框架提供理论支撑。第二章通过归纳梳理本次房地产并购热潮的发展概况和并购特征,指出了主并企业并购战略不清晰、目标企业选择不科学等房地产并购中普遍存在的问题,并针对上述问题,构建房地产并购目标企业研究框架。本文第三、第四章是论文的重点。其中第三章是第四章目标企业选择研究的前期准备,强调对主并企业自身进行深入分析,根据企业实际需求初步缩小目标企业搜寻范围。通过外部环境和企业内部资源状况分析,确保主并企业并购意图符合企业发展战略定位和具体并购目标；进而通过企业成长阶段分析准确定位并购战略,并明确并购目标企业路径及实施程序。第四章针对目标企业选择的具体原则、流程和评价指标,对目标企业的筛选进行了流程优化,更有利于企业节约并购时间和成本；通过蓝光地产并购白药置业的具体案例对整套目标企业选择问题进行了实证检验,得出并购效益为正效应,验证了理论的适用性,有助于为类似企业的房地产并购工作提供参考和技术支持。第五章提出了相应的对策和建议保障研究内容的顺利应用。由此,房地产企业选择并购目标企业过程中,应当依据企业的发展战略,依托“企业战略-资源匹配”理论和模型,进行详实的并购战略定位分析,采用科学合理的并购流程,基于STP的“成长阶段-发展战略矩阵”,明确目标企业并购路径,将会为主并企业节约并购时间和成本,提高并购成功率,提升目标企业并购后的融合度。
[Abstract]:Since 2010, a new round of real estate regulation and control has had a great impact on the real estate market, the number of real estate mergers and acquisitions has increased rapidly. The real estate M & A events involve a large amount of money and a wide range of impact. It is very important for the success of M & A to select the right M & A target enterprises correctly. The first chapter introduces the background and significance of the research, clarifies the related concepts of real estate mergers and acquisitions, and uses the theory of capital concentration. Efficiency theory for the choice of real estate M & A target enterprise research framework to provide theoretical support. Chapter two summarizes the development of the real estate M & A boom and the characteristics of M & A. This paper points out the common problems in real estate M & A, such as unclear merger strategy and unscientific choice of target enterprises, and constructs the research framework of real estate M & A target enterprises in view of the above problems. The third part of this paper. Chapter 4th is the focus of the thesis. The third chapter is the preliminary preparation for the study of target enterprise selection in Chapter 4th, emphasizing the in-depth analysis of the main and the enterprise itself. According to the actual demand of the enterprise, the search scope of the target enterprise is reduced preliminarily. Through the analysis of the external environment and the internal resources of the enterprise, it is ensured that the intention of the merger and acquisition of the main and concurrent enterprise accords with the strategic orientation of the enterprise's development and the specific. Then through the enterprise growth stage analysis of accurate positioning of M & A strategy, and clear M & A target enterprise path and implementation procedures. 4th chapter for the target enterprise selection specific principles, processes and evaluation indicators. The selection of target enterprises is optimized, which is more beneficial to save the time and cost of M & A. Through the blue light real estate merger and acquisition of white medicine real estate specific case to the entire set of target enterprise selection empirical test, the M & A benefits as a positive effect, verify the applicability of the theory. It is helpful to provide reference and technical support for the real estate merger and acquisition of similar enterprises. Chapter 5th puts forward the corresponding countermeasures and suggestions to ensure the smooth application of the research content. Therefore, in the process of choosing the target enterprises, the real estate enterprises should base on the development strategy of the enterprises, rely on the theory and model of "enterprise strategy-resource matching", and carry out detailed strategic positioning analysis of M & A. The adoption of scientific and reasonable M & A process, based on STP's "growth-development strategy matrix", clear target enterprise M & A path, will mainly save time and cost of M & A, improve the success rate of M A. Enhance the integration of target enterprises after M & A.
【学位授予单位】：郑州大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.23;F271

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