企业战略并购后财务整合问题的研究——关于企业核心能力的视角

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1、AbstractEversinceitsfirstshow—upinthenineteenthcentury，enterprisemergerandacquisition(M&A)hasgradually．．developedintoaveryimportantmeansofreallocatingthesocialresourcesandimprovingtheemciencyinresourcesuse．．Asaresult，ithasbeenwidelyusedinthedevelopmentofmodernenterpris

2、esasitexpandsfurtherinavarietyofways．However,statisticsindicatethatthepercentageofSuCCeSSinM&AislowandmanystrategicM&Asdon’treachtheirexpectations．TheauthorbelievesthatthepurposeofstrategicM&Aistoenhancecorecompetenciesofacompany．SincethefailuresofmanyM&Asarecausedbyin

3、efficientintegration，especiallybyinefficientfinancialintegrationwhichisconsideredasthecenteroftheintegrationmanagement．Therefore，financialintegrationmanagementdirectlyaffectsthecorecompetenciesofthecompany．“Thispaperincludesfourchapters，combiningthecasestudywiththeoret

4、icalanalysis．ChapteronediscussestherelationbetweencorecompetenciesandstrategicM&A．Firstly,thischapterreviewsthedevelopmenthistoryofcorecompetenciestheories，anddiscussesthemeaning，essenceofthisconcept；一Secondly，analyzesthecharacteristicsofit，pavingwayforfollowingresearc

5、habouttherelationshipbetweenthecorecompetenciesandstrategicM&A：thirdly,discussestherelationbetweenthecorecompetenciesandstrategicM＆A：ontheonehandstrategicmergersandacquisitionsareanimportantmeansofenhancingenterprise’Scorecompetencies，ontheotherhandthecorecompetenciesc

6、ouldincreasethepercentageofSuCCeSSinstrategicM&A．Chaptertwoanalyzesthekeypositionoffinancialintegrationintheintegrationmanagement．Firstly,thischapterelaboratesthemeaningofintegrationmanagementandintroducestheexistingliteratures．Then；itisdemonstratethatfinancialmanageme

7、ntisthesubsystemofthewholemanagementsystemfromvariousaspects．Soifwewanttohandlethemanagementsuccessfully，thequestionabouthowtodofinancialefficientlyshouldbeanswered．Sotheauthorclassifiestheobjectoffinancialintegration--financialresources．Furthermorethischapterdealswith

8、themajorcharacteristicsoffinancialresourcesandtheoreticanalysisoftherelationshipamongfinancialresources，financialcapa