中国企业跨国并购成本构成及其优化研究综述

从跨国并购成本的构成、成本的优化方法和成本优化策略的角度,归纳和总结了前人关于跨国并购成本的研究,从纵向和横向两个角度阐述跨国并购的成本构成,包括决策成本、交易成本、整合成本、机会成本和制度成本;运用价值链和控制成本驱动因素的方法对成本进行优化,进而提出了以价值链为主线的控制各部分成本的优化策略,给中国企业实施跨国并购提供成本优化的方法支持.

A Review of Cross-Border M&A Cost Structure and Optimization of Chinese Companies

The article,based on previous related case studies,mainly discusses the composition,methods and strategies of optimization of the cost of cross-border mergers and acquisitions.From the horizontal and vertical perspectives,it clarifies the compositions of the cross-border M&A costs,which includes decision-making cost,transaction cost,institutional cost and cost of company integration.It holds that by means of managing the value chain and controlling the cost-driving factors the M&A cost can be optimized,and that strategies,such as value-chain-based control of different costs,would provide theoretical support and enlightenment for Chinese corporations engaging in cross-border M&A.