跨国并购对我国的影响及其法律对策

2007231()Vol.23No.12007(91)JOURNALOFNORTHUNIVERSITYOFCHINA(SOCIALSCIENCEEDITION)(Sum.91):167321646(2007)0120011206X(,200439):,,,,(),:;;:DF964:AEffectsandStrategiesonInternationalMergerandAcqusitionBAIMing(LawSchool,ShanghaiUniversityofFinanceandEconomics,Shanghai200439,China)Abstract:Thispaper,basedonthemeaning,developmentandtypesofInternationalMergerandAcquisition(InternationalM&A),analyzesitssourcesanddoubleeffectsfromtheeconomicperspective.Inrecentyears,asoneofthedirectinvestmentmodesofglobalcorporation,InternationalM&A,whichhasbeentakingtheplaceofMultinationalCreating,hasbecomeamajormodeofinternationalinvestment.Therefore,thispaper,fromthelawperspective,putsforwardsomesuggestionsontheconstructionofanti2monopolylawandtheperfectionofexaminationandapprovalsystemofM&Awithforeigninvestment.Keywords:InternationalMergerandAcqusition;advantagesanddisadvantages;strategies,,()2000,11000,[1]20012000,2002200140%[2],,2004,(ForeignDirectInvestment,FDI),20033%,[3],,[4],90,FDI,90FDI,FDI,2002,,X,2003::():2006204225:(19792),,,:1,[5],MergerandAcquisition(M&A),M&A[5],,,,[5]631.1,,,[6],(FDI),,,,,[7],,[1]7,(InternationalM&A),[1]8,,,,[2]126:,,,,3%;,,,,1.2,,:[1]9-10(HorizontalM&As),,,,;[8](VerticalM&As),,;(ConglomerateM&As),,,,50%,40%,10%,[1]11,,,;,,,(),,,[1]11()(),21()20071,,,,,22.1,,[9]:1):,,,,;,,;,2),,,,,,[10]3),,,,2.2WTO,,,:,,,,,,,;,,;;,,,,:,,,,,;,,,,,;,,,,,;3,,:,,,,[2]1331(91)(),,,,,,,,.[M].:,2005:130.,,,,,[2]128,(,,[11]);,,,,,(5%),(,,,[12]);,,,,,,,,()()[2]451,,,:[10],,3.1,,[2]159,,20033,(),,,WTO;,;,,,,;3.1.1:,,:,;,,,,,,,,,[13],41()20071,,;,,1992,,,,[14],,,,500,50%,75%,,,[14],,,1921,,,,,,,,,,[15]3.1.2,:,,,;,,,,3.1.3,,,,,3.1.4,,,3.1.5,,3.1.651(91)(),,,;3.23.2.1,[8]3.2.2,,,,2003,();[16],,,(),,,,,,[2]79,,3.2.3,,,,,1995,,,,3.2.4,:,,,,,,,,,,3.3,,,,,,,,,,,(56)61()20071,,,,,,2.7WTO,,,,,2.8,,:,,,,,,,,,,,[1].[J].,2005(17):67270.[2].[J].,2005(14):62263.[3],.[J].,2005(7):35243.[4],.[J].,2005(9):58264.[5].[J].,2005(1):56258.[6].[J].,2005(5):629.(16),,,[1].[M].:,2004.[2].[M].:,2005.[3].[J].,2005(9):10215.[4],.[J].,2004(7):32235.[5].[M].:,2004.[6].[M].:,2001.[7],.[J].,2004(3):27231.[8].[J].,2005(11):47252.[9].[J].,2002(5):27232.[10],.[J].,2004(1):1152118.[11].[M].:,1999.[12],.[J].()2006(3):28232.[13].[J].,2004(4):1192123.[14].[M].:,2003.[15].[J].,2004(1):39242.[16].[M].:,2004.65()20071