本文選題：旅游企業(yè)　切入點：跨國并購　出處：《上海外國語大學(xué)》2012年碩士論文

【摘要】：進入21世紀，隨著全球產(chǎn)業(yè)的逐步轉(zhuǎn)型和變革，國際旅游業(yè)進入了蓬勃發(fā)展時期，對于美國和歐洲大部分國家，旅游業(yè)幾乎成為國民經(jīng)濟最重要的產(chǎn)業(yè)之一。收、并購（MA）作為企業(yè)跨國經(jīng)營中最炙手可熱的戰(zhàn)略和研究領(lǐng)域，一直被視為企業(yè)進行擴張的最快方式，世界上許多大型旅游企業(yè)為了拓展海外市場、吸引當?shù)乜驮�、整合當�(shù)芈糜萎a(chǎn)業(yè)鏈，都紛紛使用跨國并購來提升自身競爭力。而我國旅游企業(yè)雖處于蓬勃發(fā)展階段，但是跨國并購的嘗試并不多，偶有一些大型旅游企業(yè)剛剛開始“試水”跨國并購。 本文正是基于以上大背景下，通過跨國經(jīng)營理論以及并購理論的闡述和分析，，研究全球旅游企業(yè)的跨國并購動因，并提出影響旅游企業(yè)收購的因素為：企業(yè)成長率、國際化經(jīng)驗、海外銷售收入增長率、國際市場貢獻率、主營業(yè)務(wù)銷售增長率、主營業(yè)務(wù)銷售利潤率、銷售凈利率以及財產(chǎn)周轉(zhuǎn)率；然后對基于這些因素下的并購可能性進行研究并提出模型： 企業(yè)跨國并購Y=K1*海外銷售收入增長率+K2國際市場貢獻+K3跨國并購經(jīng)驗+K4主營業(yè)務(wù)銷售增長率+K5主營業(yè)務(wù)銷售利潤率+K6企業(yè)成長率+K7銷售凈利率+K8財產(chǎn)周轉(zhuǎn)率+K常數(shù) 對模型中各個因素對與應(yīng)變量企業(yè)跨國并購的影響進行回歸分析獲得模型結(jié)果，最后結(jié)合攜程收購香港永安的案例驗證模型對于我國旅游企業(yè)的適用性。
[Abstract]:In the 21st century, with the gradual transformation and transformation of global industries, international tourism has entered a period of vigorous development. For the United States and most of the European countries, tourism has almost become one of the most important industries in the national economy. M & A (M & A) as the hottest strategic and research field in multinational operations, M & A (M & A) has always been regarded as the fastest way for enterprises to expand. In order to expand overseas markets and attract local tourists, many large tourism enterprises in the world, To integrate the local tourism industry chain, all of them use cross-border M & A to enhance their competitiveness. However, although the tourism enterprises in China are in the stage of vigorous development, there are not many attempts at cross-border M & A. Occasionally, some large tourism companies have just started to "try water" cross-border mergers and acquisitions. This paper is based on the above background, through the theory of transnational management and M & A theory of the elaboration and analysis of the global tourism enterprises cross-border M & A motivation, and proposed that the factors that affect the acquisition of tourism enterprises are: corporate growth rate, International experience, overseas sales revenue growth rate, international market contribution rate, main business sales growth rate, main business sales profit margin, sales net interest rate and property turnover rate; Then the possibility of M & A based on these factors is studied and the model is put forward. Overseas sales growth rate K2 International Market contribution K3 Cross-border M & A experience K4 main Business sales growth rate K5 main Business sales profit margin K6 growth rate K6 net rate of sales K7. K8 property turnover K constant. The model results are obtained by regression analysis on the influence of each factor in the model on cross-border mergers and acquisitions of dependent enterprises. Finally, the applicability of the model to Chinese tourism enterprises is verified by the case of Ctrip acquisition of Hong Kong Wing'an.
【學(xué)位授予單位】：上海外國語大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F592.6;F271;F224

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