外资并购中企业风险研究.doc

外资并购中国企业风险研究 ——基于中国企业的角度而言 摘 要 随着中国经济的腾飞、市场的开放，风生水起的不仅是国内企业，外资并购的浪潮也来势汹汹。根据联合国贸发会议发布的《全球投资趋势监测报告》，2014年中国吸收外资规模达1196亿美元，同比增长1.7%，外资流入量首次成为全球第一，中国超过美国成为全球头号外商直接投资目的国。而随着中国对外开放的脚步不断加快，外资并购也呈现出快速发展的趋势。然而外资并购的发展并不是一帆风顺，对我国企业的发展也不是百利而无一害，面对外资并购，我国企业也是风险重重。研究数据表明，在全部的并购案例中，只有 30%-40%的企业，在并购之后真正实现了良性发展，多数的并购最后都以失败而告终。对外资并购中国企业的风险研究正是为了预防并应对这些风险。本文将从外资并购中国企业的相关概念出发，进而探讨其发展现状。本文的重点将研究外资并购中国企业中存在的风险，包括风险的内涵，风险产生的原因。最后根据风险的成因，对症下药，从企业及政府两方面探讨应对风险的策略。 [关键词] 外资，外资并购，民族品牌，风险 The Risk Research of Foreign MA of Chinese Companies——From the View of Chinese Companies Abstract With the fast development of Chinas economy and the opening market, the domestic enterprises and the foreign investment are both growing. In 2014, China surpassed the United States as the country with the worlds biggest foreign investment. With the accelerating pace of Chinas opening up, foreign MA is also showing a trend of rapid growth. But the development of MA is not always smooth, and there will be disadvantages and risk to the business. According to the statistics, only 30% ~40% companies of the total MA cases received positive results. And it has begun to concentrate on the countrys national brands, which not only brings worries about foreign mergers and acquisitions, but also sparked heated debate about the protection of national brands. This article will start from the concept of foreign MA and national companies, and then discuss the current development status. The article will emphasize the risk research of the MA action from the point of view of both the companies and the government. And the reason of the risk will also be covered. Finally the article will discuss countermeasures to deal with the risk in both business and government ways. Key words: Foreign Investment, MA, National Brands, Risk 外资并购中国企业风险研究 导言 研究的目的及意义： 众所周知，外资并购如同一把“双刃剑”，既是机遇又是挑战。一方面，外资并购对于帮助国内企业引进国外先进技术、管理经验等资源，充分发挥国内企业无形资产等软资源的价值，促进我国产业结构升级有着重要的作用；另一方面，外资的进入也可能会出现“水土不服”的情况，并购之后的企业并没有像预期的那样发展，不仅企业自身会出现发展困