中國大陸企業海外併購分析-以聯想集團收購摩托羅拉行動為例

隨著中國大陸政府國家政策的推動下，中國大陸企業依據國家政策「走出去」戰略進行對外投資，企業在進行對外投資最常選擇「併購」作為手段，以獲取技術、資源及市場等。透過海外併購，中國大陸企業能有效率的擴大企業規模、版圖，並且提升在國際市場的競爭力，跟上全球化時代的來臨。　　本文以中國大陸對外直接投資概況進行分析，並整理各家對外直接投資理論及各種併購的模式，針對中國大陸企業進行對外併購的模式、動機、風險、利益等四個層面進行研究。並且挑選「聯想集團收購摩托羅拉行動」作為個案研究，聯想集團想複製過去收購IBM的成功案例，將企業版圖拓展至手機產業，然而產業的跨足讓聯想集團在收購摩陀羅拉行動部門時，並沒有這麼順利。

關鍵字

中國大陸企業；併購；走出去；聯想集團；摩托羅拉行動

並列摘要

With the promotion of the national policy of the mainland China government, mainland China enterprises make foreign investment in accordance with the national policy “Goes Global” strategy. Enterprises most often choose “Merger & Acquisition “ as a means to obtain technology, resources and markets. Through overseas mergers and acquisitions, mainland China enterprises can efficiently expand the size and scope of their enterprises, and enhance their competitiveness in the international market, keeping up with the era of globalization. 　　This article analyzes the foreign direct investment in mainland China, and sorts out various foreign direct investment theories and various “M & A” models. Research on the pattern, motivation, risks and benefits of overseas mergers and acquisitions of mainland China companies. Choose case study of “Lenovo Group acquisition of Motorola Mobility”. Lenovo Group wants to replicate the successful case of the acquisition of IBM, expanding the landscape to the mobile phone industry. However, the difference in industry categories has made Lenovo Group's acquisition of Motorola's mobile division not so smooth.