企业兼并收购历程及发展思路

20世纪90年代以来,世界范围内企业并购潮风起云涌、规模空前,企业并购的总规模更是惊人地增长,我国企业间的并购也正成为中国经济中一个越来越突出的亮点。但由于种种原因,我国企业并购发展过程中还存在一些问题,主要是:上市公司股权结构不合理;政府行政干预较大;企业并购动机还停留在行政和经济思维上;非上市公司收购上市公司主要是购买上市公司的壳资源等。我国企业要直接参与国际跨国公司的竞争,必须解决好并购过程中存在的问题,才能进行强有力的并购,实现企业间的强强联合,使资本经营与实业经营两个轮子共同前进。为此,必须有积极的应对思路,如:国有股流通、鼓励强制性收购、鼓励战略性收购、完善收购方式、加强法制建设、鼓励国际并购等。

The Process of Acquisition & Merger of Enterprises and Their Development

Since the 1990s,the acquisition and merger of enterprises appeared worldwide and grew surprisingly in scale.It is becoming a bright spot,which is more and more prominent in the Chinese economy.However,there are still many problems in the process of the A & M in our country because of a variety of reasons.The main problems are the improper structure of the ownership in the listed companies,the excessive interference of the government administration,the motivation of the A & M still staying on the administrative and economic thinking,and the main purpose of the merger of the non-public companies is by reversing mergence.In order to participate in competing directly with the other multinational companies,the Chinese companies must resolve the problems in the process of the A & M,so that they can be a powerful merger,realize the union between the strong companies,and make both capital operating and industry operating develop simultaneously.We should have a proper and progressive thought,for instance,the circulation of the state-owned stock,the encouragement of the mandatory and strategic merger,the perfection of the way to merger,the strengthening of the regulation construction,and the encouragement of the international mergers.