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论文编号：	3870
作者编号：	2120092697
上传时间：	2011/11/30 12:00:52
中文题目：	产业链纵向整合风险评估和实证研究
英文题目：	Risk Assessment and Empirical Research of Vertical Integration
指导老师：	张国萍
中文关键字：	产业链，纵向整合，风险评估，实证分析
英文关键字：	Industry chain, Vertical integration, Risk assessment, Empirical analysis
中文摘要：	中国企业经过几十年的发展，涌现出一批国际知名的巨型企业，这些企业的发展目标也从“做大”不断提升到“做强做优”乃至以基业长青为更高级的理想。纵观世界各大企业的成长，大多数都是通过纵向整合、横向整合以及其他多元化方式实现。但是公司规模不断变大，伴随的是管理难度相应增加，在成长和发展过程中面临各种风险。中国实体企业开展风险管理的时间尚短，积累的经验也不足，面对企业迅速发展，尤其是在进行纵向整合过程中所遇到的风险，还没有较为清晰的界定、识别和评估。从宏观经济角度来说，国家和地区所处的产业链微笑曲线一定程度上决定了经济的发展，目前看来通过固定资产投资、出口拉动和提高消费等手段提升国民生产总值的方法在一定程度上都受到了产业链的影响；另一方面，对于企业而言，众多企业热衷的产业链延伸能否带来协同效应、规模效应、降低交易费用,能否通过掌握专用性资源获得高额的利润空间和市场占有率等问题在实践中也是各有成败。本文通过产业链纵向整合风险的来源和特征的探讨，界定并识别纵向整合中企业面临的关键风险，这些风险和企业经营中的风险在内涵和外延上不同，对企业的影响往往大于日常经营的风险。为了评估这些风险，本文引入了在美国国防采办风险管理中广泛应用的风险矩阵法和Borda序数对识别出的6个一级风险进行评估，并根据改造后的风险矩阵，对蚌埠院进行的电子信息显示上游产业链整合中面临的一级风险进行了评估。另一方面，为了进步一寻找产业链纵向整合实施收益和实施风险的关联关系，本文将6项一级风险细化为19项二级风险，实施收益以5项指标进行衡量，研究发现，纵向整合的实施收益和实施风险之间的关联关系，受到企业所在行业的性质，企业在行业中的竞争地位的影响较大。
英文摘要：	After decades of development, a number of international famous giant enterprises of China have been emerged . Their development goals have changed from "to be big" to "to be optimal" and even to "to be forever". Reviewing the world class enterprise's growth experience, we found that the majorities were grown by the means of the vertical integration, horizontal integration and other diversified. As the size of the companies become larger and larger, the difficulties of the management increased, and the risks in the process of growing and development add. The few experience in risk management makes the Chinese enterprises face the high risk during the vertical integration stage, especially in the risk definition、identification and evaluation. From a macroeconomic perspective, the industry chain smiling curve determines the countries and regions economic development. At present the fixed asset investment, exports and consumption—the most important methods to enhance the gross national product, are impacted by the industrial chain. On the other hand, for companies, whether the extension of industrial chain can bring them synergies, economies of scale, and reducing the transaction costs, or can they control the dedicated resources, thus get high profit margins and market share rate? In this paper, the sources and characteristics of industry chain vertical integration risks are the most important, the paper defined and identified the key vertical integration risks, and then it used the risk management methods—the risk matrix and Borda ordinal, to assess the 6 key vertical integration risks. On the other hand, in order to prove the relationship of the returns and the risks of the industrial chain vertically integration, the paper decomposed the 6 key risks into 19 risks, and use five index to measure the the vertical integration benefits. Study found that, the industry and the competitive position of the companies are greatly impacted the relationship.
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