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论文编号：	10776
作者编号：	2120163281
上传时间：	2018/12/10 15:16:05
中文题目：	竞争情报与企业并购尽职调查的融合研究
英文题目：	Integration of Competitive Intelligence and Due Diligence in Mergers and Acquisitions
指导老师：	李颖副教授
中文关键字：	竞争情报；企业并购；尽职调查；关键竞争情报课题；蒙牛乳业
英文关键字：	competitive intelligence; merger and acquisition; due diligence; key competitive intelligence topic; Mengniu dairy industry
中文摘要：	近年来，随着中国经济与综合实力的快速发展，我国的综合国力与国际竞争力不断增强，中国企业在高速发展的经济带动下，正在逐渐转变自己的角色，由最初的被收购方逐渐发展为收购方。面对全球经济的强势增长以及并购浪潮的涌现，中国企业在并购活动中始终保持积极活动的状态。但我们也从统计数据中看到，中国企业的跨境收购失败率几乎始终居于全球最高水平。缺乏明确的战略目标，对战略目标缺乏全面的认识和了解，缺乏并购前以及并购中的充分的准备，以及整合能力薄弱是中国企业在并购过程中存在的主要问题。因此提高企业规避并购风险的能力，增进企业对于目标企业的全面了解，能够在一定程度上帮助企业提高并购的成功率，这也是本次研究的主要目的。 针对目前我国企业并购的现实情况，本文首先进行了基本概念的界定、文献综述，以及相关理论的梳理。根据文献综述以及理论基础的研究成果，本文进行了竞争情报与企业并购尽职调查融合的基础研究，分别分析了企业并购中的尽职调查的流程与框架，竞争情报的流程与框架，找出两者的共同点并进行融合，再应用到实际操作中。然后使用案例分析方法，结合中粮集团并购蒙牛乳业的案例，验证前文的融合框架与流程，分别介绍了案例的背景、针对前文得到的结论进行具体的应用分析，并得出案例启示。最后为国内企业并购过程中的尽职调查提出意见与建议，将竞争情报与尽职调查进行融合，提高尽职调查的深度与广度。最后，总结了本研究的不足以及对未来研究方向的展望。 在本次研究中，得到以下结论：第一，目前国内的企业并购尽职调查工作仍存在需要完善的地方，建议企业能够成立自有的企业竞争情报部门，结合目前的第三方尽职调查服务，利用竞争情报相关理论与知识做好尽职调查。第二，将竞争情报的分析方法如关键情报课题方法、波士顿矩阵分析方法融入尽职调查，弥补尽职调查的缺陷与不足，使尽职调查更加全面。第三，在企业并购的整个过程中，每个环节都涉及到竞争情报收集整理与分析的工作。将竞争情报的相关知识与方法融入企业并购的各位环节，能够帮助并购方更加科学地确认目标企业，掌握目标企业的关键信息，帮助企业决策层做出正确的判断，降低并购的风险。
英文摘要：	In recent years, with the rapid development of economy and comprehensive strength and continuous enhancement of comprehensive national strength and International competitiveness in China, driven by the rapid development of the economy, Chinese enterprises are gradually changing their roles, developing from the original acquired party to acquiring party. In the face of the strong growth of the global economy and the emergence of a wave of mergers and acquisitions, Chinese enterprises have always maintained the state of being active in merger and acquisition activities. However, we also see from the statistics, the failure rate of cross-border acquisitions of Chinese Enterprises is almost always the highest in the world. The main problems in the process of merger and acquisition of Chinese Enterprises are that lack of clear strategic objectives, lack of comprehensive awareness and understanding of strategic objectives, lack of adequate preparation before and during merger and acquisition as well as weak integration capacity. Therefore, to improve the ability of enterprises to avoid the risks of mergers and acquisitions and promote a comprehensive understanding of the target enterprise can, to a certain extent, help enterprises to improve the success rate of mergers and acquisitions, which are also the main purpose of this study. Firstly, in view of the actual situation of mergers and acquisitions of enterprises in China, this paper defines the conceptual framework and carries out a literature review and sort out correlation theories. Secondly, according to the literature review and the research results of theoretical basis, in this paper, the basic research on the fusion of competitive intelligence and M & A due diligence is carried out. The process and framework of due diligence in M & A, the process and framework of competitive Intelligence are analyzed respectively to find out the common ground of them and combine them and then to apply them to the actual operation. Then, using case analysis methods and combing with the case of Cofco Group acquiring Mengniu Dairy Industry, this paper tests and verifies the above fusion framework and process, introduces the background of the case, carries out the concrete application analysis of the conclusion obtained above and draws inspiration from the case. Finally, suggestions and advice are put forward for due diligence in the process of mergers and acquisitions for domestic enterprises. With integration of competitive intelligence and due diligence, depth and breadth of due diligence is improved. At last, this paper summarizes the deficiency of this study and the prospect of future research. In this study, the following conclusions are drawn: first, at present, there are still some areas in the domestic M & A due diligence work that need to be improved. It is suggested that enterprises should be able to set up their own competitive intelligence departments. Combing with current third-party due diligence services and making full use of theories and knowledge of competitive intelligence. Secondly, this paper integrates due diligence and competitive intelligence on the process and the framework, respectively, incorporates analysis methods of competitive intelligence, such as method of key intelligence topics, method of Boston matrix analysis, into due diligence to make up for the defects and deficiencies of due diligence and to make due diligence more comprehensive. Thirdly, in the whole process of enterprise merger and acquisition, every link involves the work of the collection, collation and analysis of competitive intelligence. To integrate the relevant knowledge and methods of competitive intelligence into all aspects of corporate mergers and acquisitions can help acquirer to identify target companies more scientifically, to master the key information of the target enterprise and assist the decision-makers to make correct judgment reduce the risk of mergers and acquisitions.
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