基于期间收益的企业并购谈判模型

借鉴协商和讨价还价理论,建立了企业并购谈判模型,利用博弈论工具对模型进行了求 解. 同时,针对一些并购谈判需要时间较长的现实情况,对目标企业在谈判期间具有期间收益 的并购谈判模型进行了一些初步的研究.     

德国对外国投资者并购德国公司的安全审查制度及其法律对策

通过对《德国对外经济法》《德国对外经济条例》改革的介绍及其与欧盟法、《关贸总协定》的比较,认为应对这两个德国法中的"公共安全和国家秩序"进行更加准确的界定,并分析了这次改革对我国企业在德国以及欧盟范围内并购德国企业所产生的法律风险,进而提出事先和事后的应对策略。     

高新企业并购中的人力资源整合管理

在产业升级、结构调整以及经济一体化等因素的推动下,我国高新技术企业的并购规模和数量一直呈现不断上升趋势,并购的地域范围不再限于国内,全球范围的并购案例也迅速增长。越来越多的高新技术企业寻求通过并购方式来提高企业核心竞争能力,谋求企业的可持续发展。然而,并非所有的并购都能成功。     

Diaspora Ownership and Homeland Firms' Internationalization

Although the contribution of diaspora to international business is becoming more evident, little is known about the channels used by individual firms to benefit from diaspora. In this paper, we propose equity ownership as a form of connection between the homeland firms and diasporans (i.e. diaspora members). Specifically, we draw on the literature on diaspora combined with an owners-as-resources perspective to theorize about how diaspora owners can affect the homeland firm's internationalization. We suggest that the anticipated entry costs deriving from the liability of foreignness faced by homeland firms explain how the impact of diaspora owners varies depending on entry mode. Finally, we compare diaspora owners to other types of foreign owner which we argue have lower levels of motivation and ability to help homeland firms to internationalize, and contribute relatively less to their internationalization than diaspora owners. We test and confirm our predictions using data on 2608 domestically controlled Indian firms and their internationalization in 2006–2012.     

The triggers of local and distant search: Relative magnitude and persistence in explaining acquisition relatedness

Research on problemistic search has assumed negative attainment discrepancy to be the trigger of both local and distant search. Extending this research, we present and compare two additional triggers: (1) relative attainment discrepancy, which reflects how much a firm's attainment discrepancy deviates from its past negative attainment discrepancies; and (2) persistent attainment discrepancy, which reflects how often the firm experiences below-aspirations performance. Our triggers for distant search model a behavioral explanation for the timing and relatedness of acquisitions. We find support for baseline arguments of problemistic search whereby firms increase both industry- and skill-related acquisitions when they perform below aspirations. When they persistently perform below aspirations, however, this likelihood is reduced and firms engage in acquisitions that are more unrelated, thereby providing support for the notion of expanding search boundaries from local to distant search. Of the two triggers of distant search proposed, relative attainment discrepancy does not induce firms to expand search boundaries. Our results indicate that persistent attainment discrepancy is a key construct to consider when studying the expansion of search boundaries.     

Effects of Firm-specific and Country-specific Advantages on Relative Acquisition Size in Service Sector Cross-Border Acquisitions: An Empirical Examination

Using a sample of 348 service sector cross-border acquisitions by U.S. firms in 44 countries during 1990–2006, our study seeks to identify factors that influence relative acquisition size (acquisition transaction value as a percentage of acquiring firm's asset value). Our findings indicate that firm-specific advantages (FSAs) in the form of available financial slack and target industry knowledge were positively associated with relative acquisition size. However, contrary to expectations, we observed a negative relationship between cross-border acquisition experience and relative acquisition size. In addition, our results suggest that country-specific advantages (CSAs) associated with higher market potential, lower political risk, and greater cultural similarity contributed to increased relative acquisition size in service industry cross-border acquisitions. Finally, our analysis reveals that the relationship between available financial slack and relative acquisition size is contingent on cultural similarity with the relationship being more pronounced when cultural similarity is high.     

Malaria in Pacific populations: seen but not heard?

Most Pacific Island countries are located in the tropics, where there is an abundance of mosquitoes with the potential to carry debilitating or life-threatening vector-borne diseases. This article examines three Melanesian countries in which malaria is endemic—Papua New Guinea, Solomon Islands and Vanuatu—but the threat posed by the spread of malaria gives the issues a broader significance to the Pacific region. After discussing the spatial distribution and prevalence of malaria in the Pacific, the article examines a number of health interventions through which people have sought to control malaria. Although the disease was nearly eradicated in the Pacific in the 1970s, it is no longer in retreat. The article concludes by examining why there are still grounds for cautious optimism, and the challenges that Pacific Island countries face in reducing the impact of malaria on their populations. There is a need for prompt and concerted action on malaria at the national, regional and international levels if the public health concerns arising from the disease are to be adequately addressed.     

物流企业资源并购整合的协同管理研究

以系统理论、协同理论为理论依据,在分析物流企业资源的概念和物流企业的自组织演化过程的基础上,介绍了物流企业资源并购整合动因和模式,并从微观角度入手,阐述物流企业在资源并购整合各个相变过程中协同管理内容和层次,为中国本土物流企业进行物流资源并购整合活动提供相应的理论依据。     

滇越边民跨国流动与社会稳定研究——基于国家、地方与边民的视角

血缘关系使滇越边民频交簌往在中越两国边境,影响着国家疆域的巩固和边疆民族社会秩序的稳定。国家安边守土的治国思路,使边民得到惠施的同时,也为边商创造了跨境从商的机会。边商的边境从商行为又为两地边民务工创设下良好环境,进而泛化滇越边民的跨国越境行为,滇越边境的正常社会秩序面临更大挑战。维稳滇越边境关键在于国家、地方和边民三者之间构织起一个有序的会通和并接环境。     

Service diversification and growth of professional service firms

This study investigates the impact of service diversification on the rate and mode of firm growth in professional service firms (PSFs). Drawing on the extant PSF literature, we identify differing views regarding the growth impact of service diversification. Specifically, some scholars suggest that the external client benefits associated with service diversification should allow PSFs to expand revenues at a rapid pace and pursue less merger and acquisition activity, whereas others imply that increased diversification can cause internal challenges with respect to learning costs, coordination and innovation that can limit the rate of revenue growth and encourage more mergers and acquisitions. We test these competing views using longitudinal data on 137 accounting firms and cross-sectional data on 125 law firms and find that service diversification is negatively associated with the rate of firm revenue growth and positively associated with the use of mergers and acquisitions.