工业计算机行业横向并购整合策略研究

发布时间：2018-01-05 09:53

本文关键词：工业计算机行业横向并购整合策略研究　出处：《陕西师范大学》2013年硕士论文　论文类型：学位论文

【摘要】：2008年末爆发于美国的国际金融危机重创了全球经济,随着危机的蔓延,实体经济开始受损,经济衰退的第二波开始出现。金融危机第一波冲击的是金融业或者说是虚拟经济,对我国工业计算机行业影响不大,尚可置身事外,但是第二波的到来则让我国工业计算机也感到了寒冬。中国工业计算机行业经过近20年的高速发展,涌现出一大批优秀的企业,目前销售额过亿的企业就有5家,然而欧债危机引爆的世界范围内的经济低迷对国内工业计算机市场产生了巨大的影响,加上国内紧缩的政策调控和出口的疲软,使得国内市场增长趋缓,各大工业计算机制造厂商的毛利率急降,同业恶性竞争加剧,产业结构日趋不合理。以大陆工业计算机排名第一的研祥智能为例,2011年研祥智能全年的销售额为11.1亿人民币,较2010年下降13%,而其销售成本则由2010年的42,100,000元增加到2011年的50,500,000元,增幅为20%其雇佣的人员数量亦由2010年的2359人缩减至2011年的1935人(以上数据均来自研祥智能未经审计的2011年财务报表)。从行业发展的角度来看,考虑到内外部环境因素,行业整合已经不可避免,随之而来的是大规模的企业兼并。本文分析了当前工业计算机形势：国际金融危机对我国工业计算机行业影响较严重,工业计算机业对内面临着同业过度竞争,对外面临台湾和欧美厂商的“围剿”普遍生存艰难。而工业计算机企业的特点是：市场目前处于充分自由竞争阶段；地域优势优于规模效应；虽然属于高科技行业但是利润率严重缩水,超过100%以上的企业增长率难以再现。因此本文认为：为了打破当前的不利局面,增强企业核心竞争力,合理优化产业结构,工业计算机企业必须走横向并购的道路。本文依据并购整合理论,分析了并购整合的特点,得出我国工业计算机企业横向并购整合时应该注意的几个问题：根据市场的变化重新定位市场；并购整合的根本目的是要提升企业的核心竞争力；并购后的如何进行公司治理、运营管理；并购后的领导力如何向团队有效渗透；并购后的企业文化如何整合等。
[Abstract]:In the United States at the end of 2008 the outbreak of the international financial crisis hit the global economy, with the spread of the crisis, the real economy was damaged, the second wave of economic recession began. The first wave of the impact of the financial crisis is the financial industry or a virtual economy, on China's computer industry has little effect, can stay out, but the second wave let the arrival of China's computer industry has also felt the cold of winter. China industrial computer industry after nearly 20 years of rapid development, the emergence of a large number of enterprises, the current sales of billions of dollars of enterprises have 5, but the European debt crisis detonated the worldwide economic downturn on the domestic industrial computer market has had a huge impact plus, the weak domestic tightening policy and export, the domestic market growth slowed down, the industrial computer manufacturer's gross margin fell, vicious competition in the industry Increased, the industrial structure is becoming more reasonable. EVOC Intelligent industrial computer in mainland China ranked first in 2011 as an example, EVOC Intelligent sales throughout the year to 1 billion 110 million yuan, down 13% compared to 2010, but its sales costs increased from 42100000 yuan in 2010 to 50500000 yuan in 2011, an increase of 1935 the number of 20% of its employees from 2359 in 2010 down to 2011 (the above data are from EVOC Intelligent without 2011 audit of financial statements). From the perspective of the development of the industry, taking into account the internal and external environmental factors, industry consolidation has been unavoidable, followed by a large-scale merger. This paper analyzes the current situation: the impact of international industrial computer the financial crisis on China's industrial computer industry is serious, the industrial computer industry to face the excessive competition industry, foreign manufacturers facing Taiwan and Europe and the United States "encirclement "Universal survival difficult. While the industrial computer enterprise is: the market is currently in full free competition stage; geographical advantage is better than the scale effect; although of high-tech industry, but the profit margin shrunk, more than 100% of the growth rate of enterprises is difficult to reproduce. So this thesis thinks: in order to break the current unfavorable situation, enhance the core competitiveness of enterprises, reasonable optimize the industrial structure, the industrial computer enterprises must follow the road. On the basis of horizontal merger merger integration theory, analyzes the characteristics of mergers and acquisitions, should pay attention to several issues that the integration of horizontal merger of China's industrial computer: according to the change of the market re positioning the market; the fundamental purpose of integration is to enhance the core competitiveness of enterprises; how to carry out the corporate governance, operation and management after the merger; after the merger to the leadership team Infiltration; how to integrate the enterprise culture after the merger and acquisition.

【学位授予单位】：陕西师范大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F271;F426.671

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