并购保证及补偿保险：机理、释义及展望

随着全球经济的企稳回暖和政府"走出去引进来"战略的实施,我国企业跨国并购交易稳步增长。但在并购过程中,风险无处不在。企业应如何转移、规避并购交易风险?学术界往往从企业和政府角度探讨解决方案,忽视了保险的重要作用。本文在分析我国企业跨国并购趋势及风险的基础上,从经济学视角剖析了并购保证及补偿保险的产生机理,对其主要术语进行了释义,并展望了其在我国的应用前景。并购保证及补偿保险将成为我国企业跨国并购的"稳定器"和"助推器"。

W&I Insurance for M&A: the mechanism,interpretation and outlook

With the recovery of global economy and implementation of the government strategy of "going-out and bringing-in",the number of international M&A transactions by Chinese enterprises is on the increase constantly.But the M&A process is fraught with risks.How to transfer or evade M&A risks for an enterprise? Academic researchers usually pursue solutions from corporate and government perspectives,ignoring the role of insurers as intermediary agents.Based on analyzing the trends and risks of M&A transactions,this article elaborated on the mechanism that W&I Insurance in M&A comes about from the economics view,then paraphrased the main terms,and predicted its outlook of application in our country.The paper asserted that W&I Insurance would become a ’stabilizer’ and ’roll booster’ for M&A transactions for Chinese enterprises.