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产业集聚对中外合资企业外商并购行为的影响_MBA毕业论文DOC

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文本描述
摘要
近年来,外商资本在中国市场的投资形式偏向于独资化,连前期中国市场
“以市场换技术”而引进的大批中外合资企业也被证实具有“不稳定性”,联盟关
系中“外方”常通过各种途径并购合资企业,为外商投资的独资化进程增添了浓
墨重彩的一笔。在对中外合资企业的“不稳定性”研究中,前人多从合资企业的
内部角度出发,研究中外合资企业的股权控制行为和非股权控制行为对其外商
并购行为的影响,识别出中外合资企业中的阴谋手段,防止中方企业多年积累
毁于一旦。而企业的行为不仅依靠企业的内部活动,外部环境同样对其有重大
影响。考虑到中外合资企业在最初的区位选择中产业集聚作为一个重要的外部
因素,以及我国围绕外资而产生的集聚经济环境,致使产业集聚在外资企业发
展过程中都有着不可忽视的影响

因而本文聚焦于产业集聚,借助于产业集聚对企业生存的影响机制,分析
产业集聚的外部效应对中外合资企业经由外商并购行为实现外商独资化的影
响,并从专业化集聚(侧重同行业中)与多样化集聚(不同行业间)两种形式分别探
讨影响力度。同时,因中方联盟者的“获取技术”目的,产业集聚的技术外溢效
应是合资企业考量的重要方面。于是将中外合资企业的技术吸收能力作为调节
变量加入研究模型,因吸收能力差异导致联盟企业从外部获取资源、信息以及
技术等存在差异,进而分析同一产业集聚环境中的中外合资企业外商并购行为
的差异性。研究过程中通过行业、省份和年份三个维度将中国工业企业数据库、
中国工业经济数据库以及中国统计年鉴匹配得到研究所用数据库,并使用二元
Logit 模型对研究假设进行检验

研究表明产业集聚对中外合资企业的外商并购行为存在影响,专业化集聚
度对中外合资企业外商并购行为的影响呈现正向相关关系,而多样化集聚对中
外合资企业被外方并购行为的影响呈现“U”型非线性关系。合资企业的自身吸收
能力能够弱化产业集聚对其外商并购行为影响,即企业吸收能力负向调节专业
化集聚和多样化集聚对中外合资企业外商并购行为的影响。从实证结果发现中
国市场围绕外资所形成的集聚环境,并未实现最初“学技术”的目的,反而产业
集聚环境在一定程度上不利于联盟企业稳定发展,很可能致使联盟中的外方更
易于吞并中方的资产。最后,从政府、企业角度提出相应对策,促使中外合资
企业的稳定发展,防范中外合资企业被外方通过并购手段实现在华独资化

关键字:中外合资企业 外商并购行为 产业集聚 吸收能力II
Abstract
In recent years, the investment of foreign capital in the form of Chinese market
in favor of sole proprietorship, a large number of foreign joint ventures even early
Chinese market market for technology and the introduction is also proved a
instability, foreign alliances often through various channels mergers and joint
ventures, wholly owned foreign investment for the process of adding a thick and
heavy in colours. In the Sino foreign joint ventures instability in the study of
predecessors, from the joint venture, the internal point of view, the research of Sino
foreign joint venture equity control behavior and non equity control behavior on the
foreign mergers and acquisitions, identify the alliance enterprise conspiracy means to
prevent Chinese enterprises accumulated over the years to be destroyed on one
day.The behavior of the enterprise not only depends on the internal activities of the
enterprise, but also has a significant impact on the external environment. Taking into
account the Sino foreign joint ventures in the location choice of industrial cluster as
an important external factor, and China&39;s foreign economic agglomeration around the
environment, resulting in industrial agglomeration have a negligible impact on the
development of foreign-funded enterprises.
This paper focuses on the industrial agglomeration, based on the industrial
agglomeration effect and the mechanism of the survival of the enterprise, external
effect analysis of industrial agglomeration of joint ventures through foreign
acquisitions of foreign investment behavior to achieve the effect, and from the
specialized agglomeration (on the same industry) and variety agglomeration
(between different industries) two forms were discussed impact strength. At the same
time, the technology spillover effect of industrial agglomeration is an important
aspect of the alliance enterprise&39;s consideration for the purpose of acquiring
technology. So will the alliance enterprise technology absorption capacity as
regulating scalar joined the study model, the alliance enterprise access to resources,
information and technology from external differences from the absorption ability
differences lead to further analysis, the same industry cluster environment in Sino
foreign joint ventures of foreign mergers and acquisitions for
differences.Through the three dimensions of the industry, and will China year
provinces of industrial enterprises database, China Industrial Economic StatisticalIII
Yearbook, China database and database used in the study until two yuan, and use the
Logit model to examine the research hypothesis.
Empirical evidence shows that industry agglomeration of foreign mergers and
acquisitions of joint ventures are affected, specialization agglomeration of Sino
foreign joint venture foreign mergers and acquisitions behavior showed a positive
correlation, and diversified agglomeration of joint ventures by foreign M & A
presents U type nonlinear relationship. The joint venture&39;s absorptive capacity can
weaken the effect of industrial agglomeration on the foreign mergers and
acquisitions, the absorptive capacity of negative regulation of specialized
agglomeration and diversified agglomeration effect on Sino foreign joint venture
foreign mergers and acquisitions. The empirical results show that Chinese formed
foreign markets around the cluster environment, did not achieve the original purpose
of science and technology, but to a certain extent, industrial agglomeration is not
conducive to the stable development of alliance enterprises, largely resulting in more
foreign alliance China assets annexation. Finally, from the perspective of
government and enterprises, the paper puts forward the corresponding
countermeasures to promote the stable development of alliance enterprises, and to
prevent the Sino foreign joint ventures from being wholly owned by the foreign
countries by means of M & A.
Key words: Sino-foreign joint venture; Foreign M & A behavior; Industrial
agglomeration; Absorptive capacityIV
目录
摘要
Abstract II
第 1 章 引言 .....1
1.1 论文的选题背景及意义 .......... 1
1.1.1 论文的选题背景1
1.1.2 研究意义2
1.2 国内外研究现状 .......... 3
1.2.1 跨国合资、并购的相关研究 .... 3
1.2.2 中外合资企业外商并购行为的相关研究 ........ 3
1.2.3 产业集聚相关研究 ........ 4
1.2.4 产业集聚与跨国企业的研究 .... 6
1.2.5 相关文献评述 .... 7
1.3 研究方法与内容 .......... 7
1.3.1 研究方法7
1.3.2 研究内容8
1.4 研究的创新点和不足之处 ...... 9
1.4.1 可能的创新之处9
1.4.2 研究不足 ..
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