【作者】 王琦；

【导师】 张鹏程；

【作者基本信息】 华中科技大学 ， 工商管理， 2017， 硕士

【摘要】 并购作为企业实现快速扩张、获取优势资源以及提升自身实力的途径,已成为超过绿地投资而占绝对优势的国际直接投资方式,但并非所有的并购都能够到期预期目的,甚至部分并购最终以失败告终。企业文化是现代企业的软实力和无形资产,与资金、技术、人力等硬实力共同构成了企业核心竞争力。大量的实践以及研究结果表明,如何解决企业文化冲突是并购重组中的一个关键的问题,其也直接关系到整个并购工作的顺利推进。基于以上背景,本文以企业文化、文化冲突以及整合理论为指导,运用定量与定性相结合的研究方法,选取HD公司并购DT公司为个案,对并购重组中文化整合问题进行了系统性研究,以期能够为HD公司并购重组中科学高效进行文化整合提供直接参考,同时也期望为同类型企业或并购案例实施文化整体提供借鉴,从而更好地推动企业并购重组的顺利实施并达到预期并购目的。本研究的具体思路如下:介绍了并购双方企业的基本情况,分析了HD公司并购DT公司的动因,进一步概括了HD公司并购重组中文化冲突的表现;立足文化整合生命周期理论,从探索期、碰撞期、磨合期以及拓创期四个阶段识别了HD公司并购重组中文化整合的风险因素,同时构建了HD公司并购重组中文化整合风险评价模型及指标体系,借助层次分析法确定了各层次指标的权重,从而梳理出文化整合中需要关注的关键制约因素、重要影响因素以及逐步优化因素;分析HD公司并购重组中文化整合基础及模式选择的基础上,提出了文化整合的总体目标,更进一步结合文化整合重要影响因素,有针对性提出了文化整合的实施对策,最后阐述了相应的保障措施。更多还原

【Abstract】 Mergers and acquisitions,as a way for enterprises to achieve rapid expansion,access potential resources,and enhance their own strength,has become an absolute dominant international direct investment going beyond than the green field Investment,but not all of the mergers and acquisitions can achieve the expected purpose,and some of them ended as a failure.Corporate culture is the soft power and intangible assets of modern enterprises,and with capital,technology,human and other hard powers together constitute the core competitiveness of enterprises.A lot of practices and research results show that how to solve the conflict of corporate culture is a key issue in M & A,which is also directly related to the smoothness of the entire M&A procedure.Based on the mentioned background,this paper takes corporate culture,cultural conflict and integration theory as the guideline,and applies quantitative and qualitative research methods,selects the acquisition of DT Company made by HD Company as the case,and systematically studies the cultural integration problems in M&A,which can be a direct reference of the scientific and efficient cultural integration in the M&A of HD Company.In order to boost the successful execution of M&A,and to achieve the expected purpose of M&A,we hope this paper will become a reference for the same type of enterprises,or the case study of the culture integration in M&A.The general ideas of this study are as follows: The author introduces the basic situation of the companies involved in mergers and acquisitions,analyzes the motivations of HD Company to acquire DT Company,and further summarizes the performance of handling cultural conflicts in HD mergers and acquisitions.On the basis of cultural integration life cycle theory,identifies the risk factors of cultural integration in HD mergers and acquisitions from 4 stages: Exploratory period,Collision period,Breaking-in period and Extension period,and constructs the risk assessment model and index system of cultural integration in HD mergers and acquisitions,as a result the key factors,important influencing factors and gradual optimization factors which need to be paid attention to in the cultural integration are sorted out by using the analytic hierarchy process to determine the weight of each level index.On the basis of analyzing the basis and mode selection of cultural integration in HD mergers and acquisitions,this paper proposes the overall target of cultural integration,and further combines the important influencing factors of cultural integration,specifically advances the executive measures of cultural integration,and finally expounds the corresponding guarantee measure.更多还原