并购

在我国，受到加入WTO和国有企业改革的影响，并购活动达到了前所未有的高潮。

In our country , by the WTO accession and the impact of state-owned enterprise reform , M A activity reached unprecedented high tide .

高盛（GoldmanSachs）除日本以外亚洲并购业务负责人雷俊（JohanLeven）表示：中印公司都在全球并购舞台上确立了牢固的地位，现在的问题是它们下一步往哪里走。

Johan Leven , Goldman Sachs 's head of M A for Asia excluding Japan , said : Both Chinese and Indian corporates have firmly established themselves on the global M A scene and the big question is where they go from here .

通过一系列时机恰到好处的并购，他建立了这家公司。

He built the company through a string of well-timed acquisitions

那项并购帮助国际商业信贷银行首次跻身美国市场。

The acquisition helped BCCI make its initial entrance into the US market .

公司必须以并购或合资方式开拓国际市场。

It would have to grow by acquisitions or joint ventures to achieve global reach

不过15个月，它就成了告诫人们留心跨国并购中陷阱的警世故事。

Barely fifteen months later , it has become a cautionary tale of the pitfalls of international mergers and acquisitions

委员会通过了主席提出的新方案，开始就可能进行的并购进行讨论

The committee endorsed an initiative by the chairman to enter discussion about a possible merger .

WTO，并购与中国经济全球化

WTO , Merger / Acquisition And Globalization of Chinese Economy

王雷雷：资本强强联合不等于运营的强强联合TOM在线：可能以并购对抗

WangLeilei : Uniting Capital Not Equals Running Better TOM Online : Maybe Antagonizing by Purchasing

在我国，随着加入WTO和我国的经济结构转变，横向并购研究显得尤为重要。

In our country , with the economic structure transformation and joining in WTO , studying of horizontal merger seems particularly important .

跨国公司进入东道国具有多种市场进入模式，在大多数研究文献中，对于FDI这种市场进入模式是不加区分的，也就是不区分新设投资和跨国并购。

The MNCs can enter the foreign market by many modes , but most of the existing ar-ticles do not differentiate them .

因此在对其进行的研究中，除了借鉴国外已有的并购和FDI理论外，更重要的是立足于中国企业发展的现状，结合国内外环境进行分析研究。

So we must base on the situation of Chinese enterprise , unifies the domestic and foreign environment to conduct the analysis research .

不过，很多交易撮合者仍然表示，他们认为对于并购和IPO来说，基本的情况仍然是健康的。

And still , many deal makers said they believed that the underlying conditions for mergers , acquisitions and I.P.O.s remained healthy .

EVA实际上是资本效率与资本额之积，是投资、并购的决策依据。

In fact , EVA is capital efficiency multiplying capital amount . It can be used to make M & A decisions .

我国加入WTO以后，市场经济体制的进一步完善和新的市场准入机会的增加，外资并购国内企业已十分普遍。

Since China 's entering WTO , the further perfection of market economic system and the increase of new market field have made it prevalent for foreign investors merging and acquiring Chinese enterprises .

20世纪90年代中期以来，外国向日本的直接投资持续增长，在日本新增的FDI流入流量中大多是通过大型跨国并购来完成的。

Direct foreign investment in Japan keeps increasing ever since the 1990s , and most of the increased FDI influx volume recently in Japan is carried out by large-scale transnational merging purchase .

先后并购汤姆逊、阿尔卡特的彩电和手机业务，TCL成为中国家电业最为耀眼的明星之一。

TCL became a dazzling star of china in the industry of electric appliance after combining the TTE and T & A.

今年，该公司投资10亿美元在伦敦兴建当地最高的酒店，并另支付10亿美元并购英国圣汐游艇公司（SunseekerInternational）。

This year , it paid $ 1 billion to build London 's tallest hotel , and another $ 1 billion to buy British yacht maker Sunseeker International .

国企改革的深化，企业并购活动的增加以及加入WTO后面临更多的跨国并购的挑战等都迫切要求大力发展和丰富我国资本市场的金融工具。

Considering the deepening of state-owned enterprise reform , the increasing of mergers and acquisitions and the challenge of more multinational mergers and acquisitions after entering WTO , we should provide more financial tools in China 's capital market .

1997年的韩国金融危机，为跨国并购提供了良好的契机，同时，韩国以跨国并购形式吸引FDI也为韩国尽快摆脱金融危机的阴影做出了不可否认的贡献。

In the financial crisis in 1997 an opportunity was provided for transnational mergers and acquisitions , and the country 's using this form of investment to attract FDI has made undeniable contribution to getting out of the crisis .

随着MBO在实践中的发展，又出现了另外两种形式：一是由目标公司管理者与外来投资者或并购专家组成投资集团来实施收购，这种形式的MBO更易成功；

With the development of MBO in practice , other two kinds of forms have appeared : One is that the managers in the targeted company combine with outside investors or acquisition experts to form investing group and implement MBO .

华商投资与民营经济的对接可以在资源转化为资本的理论指导下，通过BOT、TOT、并购重组、独资、合资等多种方式进行。

Under the guidance of the theory of converting resources into capital , the methods of combining the investment of overseas Chinese businessmen and private economy include BOT , TOT , annexation and reorganization , sole investment and joint venture , etc.

本文试用扩展的（Farrell，Shapiro1990）模型，在关税减让为特征的自由贸易化趋势下，对同质产品的横向外资并购带来的价格及福利效应进行边际分析。

The effect of international merger on market structure , price and social welfare under the trend of trade liberalization is discussed and developed further under the model of Farrell and Shapiro 1990.The paper analyze horizontal merger in Cournot oligopoly with homogeneous goods .

对NSH公司并购JSL厂并购的可行性方案进行了阐述，着重通过波士顿咨询集团的成长一份额矩阵和通用电气公司多因素业务组合矩阵对JSL厂的技术改造可行方案进行了研究；

Thirdly , it states the feasibility schemes of NSH for its merger and acquisition of JSL , and analyzes the scheme of JSL by growth share matrix of BCG and combined matrix of several resources in GE .

其次，建立并购绩效评价体系。

Secondly , establish the M & A performance evaluation system .

并购支付方式资本市场比较及影响因素述评

Choice of Payment Method in Mergers and Acquisition and its Determinants

尽管如此，各家银行并购后的技术效率的情况则各异。

However , the technical efficiency of each bank is different .

关于我国企业并购动因的分析

Analysis on Motivation of Merger & Acquisition of the Chinese Enterprise

供应链间的横向竞争与并购效应

Horizontal Competition and M & A Effects of Two Supply Chains

跨国并购的盈利可能性：一个经济学分析框架

Analyzing of the Profitability of Cross - border M & A