国有企业并购整合过程中管控能力与方式的匹配研究——以延长石油为例

在国有企业并购整合过程中,企业集团总部能够结合自身管控能力采取恰当的管控方式,对并购整合绩效的优劣有着关键的影响。本研究以延长石油为案例,采用单案例研究方法,探讨国有企业集团并购整合阶段母公司管控能力与方式的动态匹配过程。研究表明,中国国有企业在重组并购整合过程中,集团母公司的管控能力在不断提升,对子公司的管控方式也随之动态变化,且在整合的不同阶段会经历财务型管控和混合型管控两种管控方式。

Research on the Matching between Control Abilities and Control Modes during the Merger and Integration of State-owned Enterprises:Case Study of Yanchang Petroleum

During the merger and integration of state-owned enterprises, it has a critical impact on the performance of the merger and integration that the headquarters can adopt an appropriate con trol mode according to its own control ability. This research takes the case of Yanchang Petrole- um as the subject, and uses a single case study method to discuss the dynamic matching between the control abilities and control modes of the parent company during merger and integration. The research shows that during the merger and restructuring of state-owned enterprises in China, with the integration and control abilities of the parent company getting promoted,the mode of its con- trol over the subsidiary changes accordingly; and in the different stages of the integration, the control mode takes financial control type or hybrid control type.