内容摘要:并购是企业快速发展的有效途径。管理学史上曾经产生过四次大的并购浪潮,成就了为数众多的大型集团企业和跨国公司。在新经济时代,随着信息技术的飞速发展,在整个IT、互联网和通讯产业出现了一股大整合的一体化趋势,高科技企业在同一时间热衷于资本运作,新一轮的并购浪潮正在酝酿中。
新经济时代的企业并购与传统的几次并购并购浪潮相比,在并购动因、并购效果和并购后整合问题呈现出了一些新的特征。在互联网产业,并购体现了明显的国际化;在IT制造业,企业通过并购战略的实施,获得了广泛的资源,为自己打造竞争优势;而在通讯产业,实施并购已经成为全行业的发展趋势,这也是与通讯技术的发展趋势相辅相成的。
本文中,作者采用实证分析的方法,试图通过对搜集到的一些典型并购案例的研究和剖析,总结出业界兼并收购的特征和发展趋势,窥探新经济时代的资本运作及产权管理的奥妙。
关键词: 新经济,并购,规模经济,资源整合
Abstract :Merger and acquisition is an efficient path for enterprises to make rapid progress. There had been four tides of merger and acquisition in the history of business administration, giving birth to numerous large groups and multinational companies. In the new economy period, with the development of information technology, a trend of integral resources starts to emerge in the entire industry of IT, internet and communication. The high-tech enterprise falls overboard for the capital operation almost in the same time, causing a new round of M&A tide in ferment.
Compared with the traditional ones, the coming M&A tide has several new features in purposes, results and integration after merger. Obvious trend of internationalization shows up in the internet industry. In the IT industry, enterprises obtain extensive resources through the strategy of M&A, which creates competitive advantages for themselves. While in the communication industry, M&A strategy has become the trend of the whole profession, adapting to the characteristics of the communication technology.
Using the analytic method in substantial evidence, the author attempts to induce the features and trends in the new economy business by analyzing the typical cases, and to discover the mystery of capital operations, as well as the methods of property management.
Key Words: New Economy,M&A,Scale Economy,Integral Resources