交易费用视角下中国企业在跨国并购中角色转变的分析-an analysis of the role changes of chinese enterprises in cross-border mergers and acquisitions from the perspective of transaction costs.docxVIP

ABSTRACTTransformation is an important task after the financial crisis for economic development of the country, is a foundation of accelerating the transformation of economic development pattern in China, improving industrial competitiveness, narrowing the urban-rural income gap. Cross-border mergers and acquisitions as a new business organization, closely related to the economic growth and transformation, is the effective ways for enterprise to cross from its previous introduce to go out. In recent years, cross-border mergers and acquisitions became the main forms of FDI, and is the main force of the foreign enterprises’ participation in economic globalization. China since its reform and opening up, especially since the fast development of the economy after its accession to the World Trade Organization, rely large part on exports. Whatever, transnational corporations are the bridge for exports.At present, Chinas strategic industries are facing the top high-end industry, engaged in low-end manufacturing and processing difficulties. In order for the development of strategic industries truly high-end, we can through cross-border mergers and acquisitions, use the comparative advantage of its huge market and low transaction costs to complete the reverse takeover in developed countries, access to elements of high-end production in developed countries, especially in technology and human capital.China, the worlds most promising developing country, it has completely different characteristics in many Western countries, these traits on the enterprise system of transnational mergers and acquisitions have both institutional advantages disadvantages. Chinas socialist market economy system, make it easier for the Government to form and nurture large enterprises, merger and acquisition in the case of ownership advantage not entirely and not obvious. Facing a complex international mergers and acquisitions environment, to speed up the construction of the Chinese Government to improv