跨国并购后的企业整合研究——以联想并购ibm-pc业务为例_精品.doc

浙 江 理 工 大 学 毕业论文 题 目：跨国并购后的企业整合研究——以联想并 购IBM公司PC业务为例 班 级： 姓 名： 学 号： 学 院： 指导老师：  摘 要 企业并购是企业外部扩张的主要渠道。当前，企业并购的形式趋于多样化，规模也越来越大，在国内外掀起了一轮又一轮的并购热潮。但是国外的学者及权威研究机构经过大量的实证研究表明，企业并购存在很高的失败率。其中的主要原因在于并购整合存在严重缺陷。本文认为，企业并购的难点不在于能否实现形式上的并购，而在于并购的整合，通过并购整合来规避或降低并购的风险，从而提高企业并购的绩效，达到预期的协同效应。 企业并购整合作为经济发展过程中的一个重要现象，在西方国家得到了较好的发展，并早己成为经济理论界和企业管理界关注的热点，但其在中国的发展相对较弱，尚处于刚开始系统研究与探索的过程之中。随着市场经济的发展，并购活动将更加活跃，企业并购整合也将成为我国企业发展的重要活动，所以对我国企业并购后的整合进行深入的研究具有十分重要的现实意义。 本文将从联想并购IBM PC业务案例出发，阐述其并购背景、动因、过程、方法，再探析联想并购整合的过程、思路以及整合的方法，从而总结并寻找出适合我国企业的并购整合之路。以期中国企业的海外并购道路能走的更顺。 关键词：跨国并购；联想；整合 ABSTRACT Merger and Acquisition (MA) is a main way of expanding to enterprise. At present the ways of MA is getting diversified and the scale is getting bigger than before. It has gradually become an upsurge in domestic and abroad. According to the statistics of the foreign researchers and the authority organizations, there is a high failure rate in enterprise MA, and the main reason is that there are serious flaws merger integration. The standpoint of the study is that the difficulty of MA is not the form but the MA integration. The enterprises may evade and lower the risk of MA and raise the efficiency to realize the expected synergy through integration. MA integration is a prominent phenomenon in the modern economic history, which attains a fairly good progress in the western countries and becomes the focus of the economics theoretical field and the enterprise management field as well. But the development of MA in China is rather weak and systematic research in this field justly started a few years ago. Along with the development of the market economy, MA integration will become an important activity in the global competitive environment. So, the deep research in this field will have an i