中国的新兴跨国公司跨国并购的动态毕业论文外文文献翻译及原文

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1、毕业设计（论文）外文文献翻译文献、文献、文献、文献、资料来源:资料发表（出版）日期:资料中文题目：中国的新兴跨国公司跨国并购的动态资料英文题目：院（部）：专业：班级：姓名：学号：指导教师:翻译日期:2017.02.14外文翻译及原文Theoriginal：DynamicsofChineseemergingmultinationalsincross-bordermergersandacquisitions1.IntroductionChina’semergingmultinationals(CEMs)havedevelopedthems

2、elvesinrecentyearsintokeyplayersintheinternationalbusinessarena，seekingviablecross-bordermergerandacquisition(M&A)opportunities(NolanandZhang，2003;RugmanandLi，2007;Morcketal.，2008).Theseactivitiesappeartobeintensifying，asChinahasacriticaldomesticmarketbaseandeconomyofsc

3、alethatsupportsCEMs’overseasexpansions.WhileanumberofCEMsarestate-ownedenterprises(SOEs)，theirexpansionshavebeenpredominantlyassociatedwithinvestmentsindevelopingeconomiesinAsiaandAfricaduetoasimilarinstitutionalenvironmentaswellasarichnessinnaturalresources，respectivel

4、y(RugmanandLi，2007;Morcketal.，2008).Inaddition，itisobservedthattheseM&AsmightalsobemotivatedbyseekingknowledgecapabilitiesasChinahasrapidlyemergedintheglobalarena.CEMsmaywellrealizeacompellingneedtoacquirecriticalknowledgeintheformoftechnologicalcapabilities，managementa

5、ndstrategyskillsinadvancedeconomies(RugmanandLi，2007).BeingsuccessfulatacquiringknowledgeassetsthroughM&AinitiativesmaybeamoredifficultchallengeforCEMthananticipated.RugmanandLi(2007,p.336)explain:First，theChineseacquirers’lackofexperienceininnovativeactivitiesmakesitdi

6、fficulttorecognizeandabsorballthepotentialvalueoftheacquiredcompanies.Second，lackofexperienceininternationalacquisitionlikelydelaystheknowledgetransferandintegrationprocess.Last，theChineseMNEs(multinationals)stilllacktheinternalmanagerialcapabilitiestointegrateforeignac

7、quisitionstodevelopanythingresemblingdynamiccapabilities.Despitesuchscepticism,thereappearstobelittleunderstandingabouttheimplicationsoftheemergenceforCEMsthatseektoacquireknowledge-intensiveassetsthroughcross-borderM&As.Forexample,howwouldtheiruniqueculturalcharacteris

8、ticsaffecttheirdevelopmentofdynamiccapabilitieswhiletheyaretransformingthemselvesintomultinationalcorporations