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论文编号：	8667
作者编号：	2120142593
上传时间：	2016/12/6 22:36:12
中文题目：	YN制药公司并购战略研究
英文题目：	Research on mergers and acquisitions strategy of YN pharmaceutical company
指导老师：	薛红志
中文关键字：	肝素类产品生产企业；并购战略；并购
英文关键字：	heparin series products manufacturer,M&A strategy, mergers and acquisitions
中文摘要：	摘要一直以来，产业机构的调整与升级是一国经济发展水平重要指标。目前，我们正处于产业机构升级的关键时期，企业并购是实现战略转型的重要手段，他不但提高了产业的集中度，实现了规模经济，还可以通过资金、技术等方面的支持促进资源更合理的配置。制药公司作为典型的R&D驱动型高新技术行业，在最近并购案例中，许多制药企业的关键并购动因是获得被并购方的新技术、新产品来弥补自身技术不足与缺陷来实现可持续发展。并购战略是企业发展战略的重要组成部分，对企业发展有重要的意义。本文以YN制药公司为研究对象，回顾并购的有关理论，研究YN制药公司并购战略有关问题。遵循“并购战略导向（动因）——资源整合（并购行为）——企业绩效（成效分析）”的逻辑思路，分析了公司发展现状以及公司现阶段面临的问题基础上、本文得出了YN制药公司并购战略的动因：宏观经济环境、行业竞争、产品升级、需求变化、公司持续发展和突破资源的约束。其次，运用SWOT分析法对公司所处的内外部环境中自己的优势、劣势、机会与威胁进行分析；得出YN制药公司应该选择纵向一体化与技术并购混合并购的方式，对并购对象进行了寻找、筛选、研究。为了提高并购的成功率，并购后YN制药公司制定了战略目标与详细方案；为了确保战略目标能够实现，YN制药公司采取了一些保障措施。对并购后整合过程中战略目标的实现进行了成效分析，并对出现的问题提出了进一步的解决方案。本文以并购理论为基础，从并购事件几个方面研究了YN制药公司基于企业内外部环境而选择并购手段实现公司可持续发展：第一个方面表现企业内外部环境以及并购的动因决定了并购类型的选择；第二方面表现为基于并购类型如何对并购对象进行研究与筛选；第三方面表现为公司采取了哪些保障措施确保战略目标能够实现；第四方面表现为并购后企业整合过程中出现的问题，以及进一步的解决方案。这些内容丰富了我国肝素类制药企业并购行为与战略转型的研究关系。 关键词：肝素类产品生产企业；并购战略；并购
英文摘要：	Abstract All along, the adjustment and upgrading of industry is an important indicator of the level of economic development of a country. At present, we are in a critical period of upgrading of industrial structure, mergers and acquisitions is an important way to achieve industrial upgrading, it does not only improves the concentration of the industry, to achieve scaleeconomies, but also promote more rational allocation of resources throughthe supportof the capital, technology and other aspects. Pharmaceutical companiesare typical R&D driven high-tech industry companies, in a recent cases, key acquisitions motivation in many pharmaceutical companies is to obtain new technology and new products by the acquirer to make up their own shortcomings and defects of technology to achieve sustainable development. M &A strategy is an important part of the enterprise development strategy, which has important significance for the development of enterprises. This article use YN pharmaceutical company as the research object, combined with the theory of industrial upgrading, mergers and acquisitions, study the related issues of industrial upgrading of YN pharmaceutical companies. Follow the logical thought of "the strategy of merger and acquisition (Motivation) -- the integration of resources (M & A behavior) -- the enterprise performance (analysis of effect)", this article discusses the reasons for the implementation of the industrial upgrading of YN pharmaceutical company, on the basis of introducing the current situation of the company's development and the problems faced by the company. Get a conclusion that the main reason for the company to promote the implementation of mergers and acquisitions is the macro-economic environment, industry competition, product upgrading, demand changes, the company's sustainable development and breakthrough resource constraints. Secondly; using the SWOT method analysis on internal and external environment of the company in their own strengths and weaknesses, opportunities and threats.Get a conclusion that the vertical integration and technology acquisition is the appropriate way, selection and research of M &A target. In order to improve the success rate of mergers and acquisitions, YN pharmaceutical company establishedan industrial upgrading and detailed program based on mergers and acquisitions; in order to ensure the smooth progress of the mergers and acquisitions, YN pharmaceutical company have taken some protection measures. This article also analyzes the progress of industrial upgradingin the process of post-merger integration, present further solution of the problem during the process; This article based on the M&A theory, researchseveral aspects of mergers and acquisitionsof YN pharmaceutical companies choose M&A to realize the sustainable development of the company based on the internal and external environment: Firstly, internal and external environment of enterprise and motivation of M&A determines the choice of the type of merger and acquisition; secondly, research and selection of M &A target based on M & A type; thirdly, the measures of the company has taken to ensure that the strategic goal can be achieved; Fourth, post-merger integration process problems, and further solutions.These contents enriched the study of the relationship between the merger and acquisition behavior and strategy transformation of China's heparin pharmaceutical enterprises. Key Words: heparin series products manufacturer,M&A strategy, mergers and acquisitions
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