企业并购后整合及整合绩效研究

【作者】 陈建华；

【导师】 周国光；

【作者基本信息】 长安大学 ， 产业经济学， 2005， 硕士

【摘要】 随着经济的发展,我国企业的经营环境也在逐步完善,同时企业投资的方式也在逐步变化。以往的“绿地投资”方式因为其漫长的投资期无法跟上市场的变化节奏而逐渐被并购代替。并购在逐步显示其强大的生命力,成为企业投资的一个主要选择方式。 企业并购要想取得成功,并购前的准备以及并购实施技巧确实是很重要的,但是更多的证据表明,在考虑这两个因素之外,企业并购后的整合往往对并购能否取得应有的效果而起着决定性的作用。 企业并购后的整合主要包括企业战略整合、企业有形资源以及无形资源整合。整合是一个复杂的过程,需要考虑并购双方以及市场的具体情况,采取不同的整合模式。在整合过程中还要注意对并购双方组织知识的保护,这一点往往会被忽视。 因为企业并购后的整合需要的时间很长,同时对一些资源因素的整合而言,这种整合后的效果并不会马上通过有形的财务或经营表现来验证整合是否有效,在这种情况下就需要一套完善的评价体系来衡量整合的绩效。 我国的企业并购发展较快,但是在并购后的整合过程中仍然存在不少问题。政府在提供公平竞争环境的同时,企业也要加强对并购后整合的重视,学习并购后的整合技巧,从而使并购能够达到预期目的。更多还原

【Abstract】 with the development ot economy ,our enterprises’ running environments begin better and at the same time the investment method also is changing .Because investment period of "Greenland investment" is too long and it can not keep up with the changing of market, M&A begins to take place of the "Greenland investment" . M&A also is showing its strong vitality and it begins to be the main investment method of enterprises.As we know, if you want to success in M&A you must prepare carefully and have some skills .But more and more experiences show that the post—merger integration may decide the output of M&A.The post-merger integration is mainly composed of strategy integration, tangible resources integration and intangible resources integration. The post-merger integration is a complicate process and you must take care of the actual circumstances of the enterprises and market then adopt different integration pattern .During the process of integration, you must pay attention to protect organizations’ knowledge but you may often ignore this protection work.Because the integration time is long and the result of some resources integration also can not show whether the integration work successes or not by the way of financial index and operation, under this circumstance a suit of perfect evaluation system is needed to appraise the integration effect.In our country, M&A develops rapidly but there are many problems in the post-merger integration process. While our government try to provide equitable competitive environments, enterprises also have to put more emphasizes on the post-merger integration process and learn more skills on integration to obtain success.更多还原