놱뺩쫐뺭볃맜샭룉늿톧풺톧놨뗚21뻭뗚4웚ꆡퟜ뗚75웚ꆡ2006쓪12퓂ꆡꆡ뿧맺늢릺샭싛뇈뷏퇐뺿캺닊믛,췵믛쏴(놱뺩쫐뺭볃맜샭룉늿톧풺,놱뺩100102)ꆾ햪ꆡ튪ꆿꆡ뿧맺늢릺쫇웳튵늢릺믮뚯뿧풽맺뷧뗄퇓짬,쫇떱뷱웳튵몣췢삩헅뗄튻훖훷튪랽쪽,놸쫜웳튵뷧ꆢ샭싛뷧맘힢ꆣ놾컄듓죽룶랽쏦뛔폐맘웳튵늢릺뗄퇐뺿컄쿗ퟶ튻룅쫶,횼퓚쇋뷢폐맘뿧맺늢릺퇐뺿뗄쿖ힴ,쳡돶탨튪뷸튻늽퇐뺿뗄컊쳢ꆣꆾ맘볼듊ꆿꆡ웳튵늢릺;ꆡ뿧맺늢릺ꆾ훐춼럖샠뫅ꆿF271ꆡꆾ컄쿗뇪쪶싫ꆿAꆡꆾ컄헂뇠뫅ꆿ1008-7222(2006)04-0034-05뿧맺늢릺쫇튻맺춶헟춨맽볦늢믲쫕릺뗄탎쪽좡뗃쇭튻맺웳튵뿘훆좨뗄춶탐캪,쫇웳튵늢릺퓚몣췢뗄퇓짬ꆣ퓚떱뷱뺭볃좫쟲뮯샋뎱쿂,뿧맺늢릺틑돉캪웳튵뷸탐몣췢춶뗄훷쇷랽쪽ꆣ캪듋,맺쓚췢훚뛠톧헟뛔뿧맺늢릺뷸탐퇐뺿ꆣ튻ꆢ맺췢폐맘웳튵늢릺뗄퇐뺿웳튵늢릺ퟔ19쫀볍쒩뾪쪼퓚컷랽훷튪쫐뎡뺭볃맺볒탋웰틔살,쿈뫳뺭샺쇋컥듎듳뗄샋뎱,늢쟒헢킩샋뎱믹놾짏폫컷랽랢듯맺볒뗄뺭볃랢햹훜웚놣돖튻훂,쫇쯦ퟅ벼쫵룯쏼뫍벼쫵뒴탂뗄닺짺뛸랢짺뗄ꆣ틲듋,컷랽뗄튻냣늢릺샭싛뗄랢햹튲쫇캧죆늢릺샋뎱닠훘폚뷢쫍웤뚯틲뛸햹뾪뗄ꆣ20쫀볍90쓪듺좫쟲늢릺랢짺뫳,컷랽뺭볃톧볒닅쿲틔쪵횤랽램퇐뺿늢릺킧펦ꆣ컒쏇죏캪맺췢폐맘웳튵늢릺뗄퇐뺿돉맻뫍컄쿗뿉틔듓틔쿂벸랽쏦뷸탐ퟛ쫶ꆣ(튻)늢릺뚯틲뗄퇐뺿컷랽톧헟쳡돶쇋뛠훖늢릺뚯믺샭싛ꆣMuller(1992)붫늢릺뗄뚯믺맩쓉캪퓶볓쫐뎡쓜솦ꆢ쳡룟킧싊뫍듺샭컊쳢[1];K1D1Brouthers뗈(1998)죏캪,늢릺뚯믺뿉틔럖캪뺭볃뚯믺ꆢ룶죋뚯믺뫍햽싔뚯믺죽샠[2]ꆣퟜ웰살뾴,컷랽퇐뺿헟붫웳튵늢릺뗄뚯틲맩쓉캪틔쿂9훖:뺭펪킭춬볙쮵;맜샭킭춬볙쮵;닆컱킭춬볙쮵;쫐뎡솦솿볙쮵;햽싔뚯믺볙쮵;뿘훆좨쫐뎡볙쮵;볛횵뗍맀볙쮵;쓚늿샻틦죋볙쮵뫍맽뛈ퟔ탅볙쮵[3]ꆣ(뛾)늢릺킧펦뗄퇐뺿컷랽훚뛠뺭볃톧헟춨맽쪵횤럖컶,퇐뺿쇋늢릺뗄킧펦ꆣ늢릺킧펦뿉틔맩쓉캪,막뚫닆뢻킧펦ꆢ뻍튵킧펦ꆢ닺튵벯뻛킧펦ꆢ풴엤훃킧펦ꆢ뺭볃랢햹킧펦뗈ꆣ맘폚늢릺쓜럱쳡룟웳튵뺭펪킧싊뗄퇐뺿,훁뷱짐컞뚨싛ꆣ튻킩톧헟퓚퇐뺿쇋늢릺웳튵뺭펪킧싊뫳랢쿖,평폚뷏룟뗄늢릺돉놾뫍놻쫕릺웳튵뷏닮뗄뺭펪ힴ뿶떼훂늢릺뫳웳튵뗄샻죳싊돊쿖뗝복뗄쟷쫆ꆣ떫쫇튲폐튻킩뺭볃톧볒춨맽럖컶횤쏷,늢릺쪵쿖쇋뺭펪뗄뛠풪뮯,뎤웚뿉쳡룟웳튵뗄뺭펪튵벨ꆣ퓚뛔듳탍뿧ꆡꆡ쫕룥죕웚:2006ꆪ10ꆪ20ퟷ헟볲뷩:캺닊믛(1965-),얮,뫓놱쪡죋,놱뺩쫐뺭볃맜샭룉늿톧풺뺭볃쎳틗쾵뢱뷌쫚ꆣ췵믛쏴(1975-),얮,쓚쏉맅ퟔ훎쟸죋,놱뺩뺭볃맜샭룉늿톧풺뺭볃쎳틗쾵붲쪦ꆣꆪ34ꆪ' 1994-2010 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡ캺닊믛,췵믛쏴ꆤ뿧맺늢릺샭싛뇈뷏퇐뺿웳튵뺭펪맜샭맺늢릺뗄뗷닩훐랢쿖,뿧맺늢릺뛔뺭펪킧싊뗄쳡룟폐헽쏦펰쿬,뿧맺릫쮾뗄늢릺뛔뚫뗀맺뺭볃랢햹폐듙뷸ퟷ폃ꆣ(죽)돉뻍늢릺뗄퇐뺿웳튵늢릺쫇듳ퟚ샠뢴퓓붻틗,듦퓚ퟅ뻞듳럧쿕,폐쪱늢릺웳튵늻뷶늻쓜듯떽풤웚쒿뗄,랴뛸놻췏죫ꆰ쓠첶ꆱꆣ쯹틔,늢릺웳튵뷸탐늢릺쪱뇘탫럀랶럧쿕,돉뻍늢릺ꆣMichaelCraig(2000)춨맽뛔쏀맺샺쪷짏50웰뚥벶늢릺붻틗뗄럖컶퇐뺿뫳,쳡돶돉릦뗄늢릺붻틗뇘탫ퟱ톭쪮듳풭퓲,죧,벯훐폅쫆;샻폃뛔쫖뗄죵뗣;톰헒뇰죋뫶쫓뗄볛횵;늻튪쪹ퟔ벺뒦폚쟳죋뗄뺳뗘;뒴탂;뗈뗈[4]ꆣRobertJ1Borghese뫍PaulF1Borghese(2002)쳡돶쇋돉릦늢릺뗄9듳늽훨,벴뾼싇햽싔쒿뇪,움볛뷡릹쓜솦,쪶뇰뫍즸톡잱퓚뗄늢릺뛔쿳,뺡횰뗷닩,움볛쫕릺뛔쿳,캪붻틗톡퓱뫏쫊뗄램싉뫍쮰쫕뿲볜,맜샭헻뫏,샻폃쫕릺볇럖뾨볠뿘쫕릺맽돌뫍쪵쪩쫕릺탅쾢랴삡뮷뗈[5]ꆣ뛾ꆢ맺쓚폐맘웳튵늢릺뗄퇐뺿훐맺뛔웳튵늢릺뗄퇐뺿쪼폚20쫀볍90쓪듺훐웚ꆣ웰돵,뛠쫽퇐뺿헟쫇뻍쒳룶컊쳢뷸탐퇐뺿뗄,뇈죧웳튵늢릺폫뷰죚ꆢ웳튵늢릺뗄뺭볃벼쫵맘쾵ꆢ웳튵늢릺폫랴슢뛏컊쳢뗈ꆣ쯦ퟅ훐맺횤좯쫐뎡뗄랢햹,늢릺훘ퟩ돉캪횤좯쫐뎡풴엤훃뗄ퟮ훷튪뮷뷚,횤좯쫐뎡뗄늢릺돉캪퇐뺿뗄죈뗣ꆣퟜ웰살뾴,웳튵늢릺쫇퓚훐맺뺭볃쳥훆맬벰룄룯뾪럅맽돌훐랢짺뗄,쫇퓚쳘쫢뗄짧믡뺭볃놳뺰쿂탎돉뗄,틲뛸훐맺뗄웳튵늢릺벰웤샭싛퓧웚듸폐쿊쏷뗄훐맺쳘즫[6]ꆣ맺쓚폐맘웳튵늢릺뗄퇐뺿컄쿗뿉틔듓틔쿂솽랽쏦ퟜ뷡맩쓉ꆣ(튻)늢릺뚯믺뗄퇐뺿룹뻝횣몣몽(1999)퇐뺿뷡맻뾴,훐맺웳튵늢릺뗄뚯믺폐:(1)쿻돽뿷쯰쮵ꆣ벴춨맽늢릺믺훆볓듳뿷쯰웳튵뗄뺭펪톹솦쪹웤얬솦쳡룟뺭펪킧싊ꆣ(2)웆닺쳦듺쮵ꆣ벴뛔폚듳뛠쫽뿷쯰웳튵살쮵,춨맽늢릺틔뫃듸닮,듸뚯쇓쫆웳튵뗄랢햹,뛸늻쓜쟡틗죃웤웆닺ꆣ(3)잿ힳ쏱ퟥ릤튵쮵ꆣ훐맺쏱ퟥ릤튵횻폐쪵탐잿잿솪뫏,ퟩ돉쓜폫맺볊뿧맺릫쮾쿠뾹뫢뗄ꆰ몽뿕쒸붢ꆱ,닅쓜퓚죕틦벤쇒뗄맺볊뺺헹훐쟳뗃짺듦뫍랢햹ꆣ(4)풴폅뮯엤훃쮵ꆣ벴춨맽늢릺쪵쿖맺폐닺퓚늻춬쯹폐훆횮볤ꆢ늻춬뗘쟸횮볤ꆢ늻춬닺튵횮볤뗄쇷뚯,엌믮맺폐닺듦솿,쪵쿖풴폅뮯엤훃,쳡룟풴쪹폃킧싊ꆣ닌쓾뗈(2002)붫훐맺웳튵늢릺뚯틲맩쓉캪ힷ쟳맦쒣뺭볃ꆢ삩햹쫐뎡쫆솦ꆢ좡뗃맘볼튪쯘ꆢ뛠풪뮯뺭펪ꆢ맜샭헟뚯믺뫍쪵쿖웳튵뗍돉놾삩헅뗈랽쏦[7]ꆣ(뛾)늢릺벨킧뗄퇐뺿맺쓚뛔웳튵늢릺벨킧뗄퇐뺿쫇헫뛔짏쫐릫쮾늢릺벨킧뷸탐쪵횤퇐뺿뗄ꆣ럫룹뢣뫍컢쇖붭(2001)럖컶뫍볬퇩쇋1994ꆫ1998쓪볤컒맺짏쫐릫쮾늢릺벨킧,뷡맻뇭쏷:짏쫐릫쮾늢릺벨킧듓헻쳥짏폐튻룶쿈짽뫳붵뗄맽돌;늻춬늢릺샠탍퓚늢릺뫳늻춬쪱웚쓚튵벨늻쿠튻훂;쇭췢,늢릺잰짏쫐릫쮾뗄뗚튻듳막뚫돖막뇈샽폫늢릺벨킧퓚뛌웚쓚돊헽쿠맘맘쾵[8]ꆣ랶듓살뫍풬뺲(2002)뛔컒맺짏쫐릫쮾1995ꆫ1999쓪336듎늢릺쫂볾뷸탐쪵횤럖컶뗄뷡맻뇭쏷:뒦폚돉뎤탔탐튵뗄릫쮾뷸탐뫡쿲늢릺벨킧뷏뫃;뒦폚돉쫬탔탐튵뗄릫쮾뷸탐ퟝ쿲늢릺벨킧뷏뫃;뒦폚쮥췋탔탐튵뗄릫쮾뷸탐뫡쿲늢릺뗄벨킧ퟮ닮[9]ꆣ헅탂(2003)닉폃쇋쫂볾퇐뺿뫍믡볆퇐뺿램,뛔1993ꆫ2002쓪컒맺짏쫐릫쮾뗄1216룶늢릺쫂볾뷸탐쪵횤럖컶뗄뷡맻뇭쏷:늢릺캪쒿뇪릫쮾뒴퓬쇋볛횵,쒿뇪릫쮾뗄막욱틧볛듯떽29105%;뛔쫕릺릫쮾막뚫좴닺짺뢺쏦펰쿬,쫕릺릫쮾뗄막욱틧볛캪-16176%[10]ꆣ쇭췢,쟘쾲뷜ꆢ돂뫩(2004)쳡돶,튪쳡룟웳튵늢릺벨킧ꆢ쪵쿖돉릦늢릺,뇘탨헽좷톡퓱쒿뇪웳튵ꆣ톡퓱쒿뇪웳튵튪뺭맽훆뚨톡퓱뇪ힼꆢ뷸탐즸톡ꆢ쳖볛뮹볛ꆢ뚩솢뫏춬뗈맽돌[11]ꆣ죽ꆢ폐맘뿧맺늢릺뗄퇐뺿ퟔ20쫀볍80쓪듺훐웚웰,뿧맺늢릺훰붥좡듺쇋싌뗘춶뛸돉캪뿧맺릫쮾뛔췢춶뗄훷튪랽쪽ꆣ폐쫽뻝쿔쪾:떽2000쓪,맺볊짺닺퓶뎤뗄80%뚼쫇춨맽뿧맺늢릺쪵쿖뗄;뿧맺늢릺퓚뛔췢횱뷓춶ퟜ뛮훐ꆪ35ꆪ' 1994-2010 China Academic Journal Electronic Publishing House. All rights reserved.
놱뺩쫐뺭볃맜샭룉늿톧풺톧놨뗚21뻭뗚4웚ꆡퟜ뗚75웚ꆡ2006쓪12퓂ꆡꆡ틑햼87%ꆣ캪듋,샭싛뷧듓늻춬뗄뷇뛈ꆢ퓋폃늻춬뗄랽램,뛔뿧맺늢릺헢튻믮뚯뷸탐쇋뷢쫍ꆣ좻뛸,웹뷱캪횹,맘폚뿧맺늢릺뗄샭싛닻쫍싛돶뛠쏅,짐캴탎돉뷏캪쾵춳뗄ꆢퟛ뫏뗄샭싛뿲볜[12]ꆣퟜ웰살뾴,맺쓚췢폐맘뿧맺늢릺뗄퇐뺿컄쿗뫜뛠,쓚죝뷏퓓ꆢ짦벰쏦맣ꆣ틔Hymer뫍웤떼쪦Kindleberger뗄슢뛏폅쫆샭싛(1960,1976)ꆢBuckley뫍Casson캪듺뇭뗄쓚늿뮯샭싛뫍틔Dunning쳡돶뗄맺볊짺닺헛훔샭싛,듺뇭쇋퓧웚뛔뿧맺늢릺퇐뺿뗄샭싛돉맻ꆣ떱뷱폐맘뿧맺늢릺뗄퇐뺿,훘뗣폐틔쿂벸랽쏦뗄쓚죝ꆣ(튻)뿧맺늢릺쒿뇪웳튵맀횵랽램뗄퇐뺿역뇳뗈(2005)죏캪,캴살쿖뷰쇷헛쿖뗄뺻쿖횵램(NPV)뛔뿧맺늢릺춶뻶닟뻟폐뫜듳뗄뻖쿞탔,뛸쪵컯웚좨램쫇쒿뇪릫쮾볛횵움맀뫍즸톡틔벰닢뛈늢릺뫳뿧맺릫쮾뺺헹솦쳡룟뗄튻훖뇈뷏폐킧뗄랽램[13]ꆣ폚퇐(2005)퓚럖컶쇋뒫춳뗄웳튵볛횵움맀랽램쳘뗣뗄믹뒡짏뗃돶:퇐뺿뿧맺늢릺탨튪퇐뺿늢릺쒿뇪웳튵뗄캴살돉뎤탔뫍뿧맺늢릺뻶닟짏뗄쇩믮탔,쪵컯웚좨뗄쪵폃볛횵헽쫇쳥쿖퓚헢튻랽쏦ꆣ늢쟒뮹횸돶:쒿잰퓚뛔뿧맺늢릺훐뗄쒿뇪웳튵뷸탐맀볛쪱,쪵컯웚좨뗄훷튪뚨볛랽램폐뺭뗤랽램ꆢ훷맛랽램ꆢ컞닺붻틗탔볙짨램ꆢ탞헽뺭뗤랽램뫍ퟛ뫏램뗈[14]ꆣ(뛾)뿧맺늢릺럧쿕뗄퇐뺿튶붨쒾ꆢ췵뫩퓋(2004)횸돶,뿧맺늢릺훷튪냼삨죽룶뷴쏜쿠맘뗄맽돌,벴늢릺뻶닟맽돌ꆢ죚폫횧뢶맽돌ꆢ늢릺헻뫏맽돌ꆣ폫듋뛔펦,뗚튻룶맽돌뗄훷튪럧쿕쫇쒿뇪웳튵폫늢릺볛룱뗄움맀좷뚨;뗚뛾룶맽돌뗄훷튪럧쿕쫇죚쯹듸살뗄죚낲업ꆢ죚뷡릹럧쿕;뗚죽룶맽돌뗄훷튪럧쿕쫇늢릺뫳뗄훘ퟩ뫍헻뫏럧쿕ꆣ뿧맺늢릺뗄죽룶맽돌럧쿕릹돉쇋뿧맺늢릺뗄튻쳵럧쿕솴ꆣ뛔웤럧쿕뗄뿘훆펦룃듓룷룶뮷뷚죫쫖,폈웤쫇냑컕맘볼뗄뻶닟맽돌,퓶볓쇩믮탔ꆣ듓쪵컯웚좨뷇뛈럖컶,뿧맺늢릺맽돌쇩믮탔뗄볛횵뿉틔듓돉놾캬ꆢ쪱볤캬ꆢힴ첬캬뗈죽룶캬뛈럖뇰뷸탐닢뛈[15]ꆣ솬믛(2005)닻쏷훐맺웳튵뿧맺늢릺쏦쇙뗄럧쿕쫇헾훎램싉럧쿕ꆢ쒿뇪웳튵뚨볛럧쿕ꆢ닆컱럧쿕뫍컄뮯헻뫏럧쿕[16]ꆣ쯥쏴,헔톧잿(2005)죏캪훐맺웳튵뿧맺늢릺폐췢늿뮷뺳럧쿕뫍웳튵ퟔ짭럧쿕ꆣ췢늿뮷뺳럧쿕냼삨쒿뇪웳튵쯹퓚맺뗄헾훎램싉뮷뺳럧쿕ꆢ훐맺헾훎램싉럧쿕ꆢ쫐뎡훆뛈럧쿕;웳튵ퟔ짭럧쿕냼삨쒿뇪웳튵맀볛럧쿕ꆢ죚럧쿕ꆢ랴늢릺럧쿕뫍늢릺헻뫏럧쿕[17]ꆣ(죽)뿧맺늢릺헻뫏뗄퇐뺿웕뇩살뾴,컞싛쫇웳튵늢릺뮹쫇뿧맺늢릺,돉릦싊늢늻룟ꆣ싳뿏컽릫쮾뗄춳볆뇭쏷:횻폐33%뗄늢릺쫇돉릦뗄ꆣ뺿웤풭틲,듳솿쪧냜뗄늢릺횱뷓풴폚헻뫏뗄쪧냜ꆣ늨쪿뛙톯벯췅뗄튻쿮퇐뺿랢쿖,횻폐뗍폚20%뗄릫쮾퓚쫕릺쒿뇪웳튵횮잰뾼싇맽솽볒믺릹뗄헻뫏늽훨ꆣ늨쳘(Porter,1987)퓚뛔ꆰ닆뢻500잿릫쮾ꆱퟶ뗄퇐뺿뇭쏷,평폚늢릺뫳쮫랽듳뛠늻쓜뫜뫃뗘뷸탐헻뫏,퓚쫕릺5쓪횮뫳,70%틔짏뗄릫쮾폖냑헢킩튵컱늻쿠맘뗄웳튵훘탂냾샫쇋돶좥[18]ꆣ쯹틔,Haspeslagh뫍Jemison(1991)횸돶,늢릺뫳헻뫏쫇볛횵뒴퓬뗄살풴뫍늢릺돉릦뗄훘튪놣횤[19]ꆣ늢릺뫳뗄헻뫏맽돌릹돉쇋늢릺뗄ퟮ듳럧쿕,헢믹놾짏틑쫇듳볒뗄릲쪶ꆣP1웕샯쟐쳘뫍D1슳뇶톷죏캪헻뫏맽돌뿉럖캪컥룶뷗뛎:벴짨볆뷗뛎ꆢ움맀뷗뛎ꆢ햹뾪뷗뛎ꆢ맜샭뷗뛎뫍쫕캲뷗뛎[20]ꆣ뛸맘폚헻뫏쓚죝,삭뷜뿆쮹(2001)붫늢릺뫳뗄헻뫏럖캪풴헻뫏ꆢ쇷돌헻뫏ꆢ릫쮾퓰죎뗄헻뫏뗈훷튪랽쏦[21];맺쓚톧헟췵뗈(2000)쳡돶컥샠뮮럖램,벴닺뢺햮헻뫏ꆢퟩ횯훆뛈헻뫏ꆢ짺닺뺭펪헻뫏ꆢ죋솦풴헻뫏ꆢ웳튵컄뮯헻뫏[22]ꆣ늢릺헻뫏펦룃쪵쿖죽랽쏦뗄쫊펦탔,벴닆컱쫊펦탔ꆢ뺭펪쫊펦탔뫍ퟩ횯쫊펦탔ꆣ헢죽룶쫊펦탔쫇늢릺헻뫏뗄뫋탄컊쳢,튲쫇늢릺맜샭뗄훘튪죎컱ꆣ뛸훐맺웳튵뷸탐뿧맺늢릺룼튪힢훘컄뮯헻뫏ꆣ(쯄)폐맘훐맺웳튵뿧맺늢릺뗄퇐뺿냩쯦ퟅ훐맺룄룯뾪럅뷸돌뫍죫쫀뗄늽랥,뿧맺늢릺퓚훐맺튲쿆웰쇋룟뎱,폐맘훐맺웳튵뿧맺늢릺뗄퇐뺿늻뛏돶쿖ꆣ웤퇐뺿훷튪폐솽듳샠:튻샠쫇퇐뺿췢맺릫쮾뛔훐맺웳튵뗄늢릺;튻샠쫇퇐뺿훐맺웳튵ퟟ돶좥뷸탐몣췢늢릺ꆣ11췢맺뿧맺릫쮾뛔훐맺웳튵늢릺뗄퇐뺿ꆣ맘쇺ꆢ맘쳎(2005)죏캪,뿧맺릫쮾늢릺뛔훐맺뺭볃뗄펰쿬ꆪ36ꆪ' 1994-2010 China Academic Journal Electronic Publishing House. All rights reserved.
ꆡꆡ캺닊믛,췵믛쏴ꆤ뿧맺늢릺샭싛뇈뷏퇐뺿웳튵뺭펪맜샭쫇뛠랽쏦뗄,폐샻튲폐뇗,떫뛔훐맺샻폃췢쫇폐헽쏦펰쿬뗄[23]ꆣ쯦ퟅ훐맺뷸튻늽뗄룄룯뾪럅뫍싄탐죫쫀뗄돐억,췢틔늢릺랽쪽뷸죫훐맺틑쫇튻훖쟷쫆ꆣ틲듋,뷏뛠죋퇐뺿췢맺웳튵늢릺훐맺웳튵뗄쿖ힴꆢ듦퓚뗄컊쳢틔벰훐맺뗄뛔닟ꆣ21폐맘훐맺웳튵몣췢늢릺뗄퇐뺿ꆣ듋샠퇐뺿컄쿗뷏뛠,짦벰늢릺뚯틲ꆢ늢릺럧쿕벰웤럀랶ꆢ늢릺쒣쪽ꆢ늢릺햽싔쪵쪩뗈뛠랽쏦,떫ퟜ쳥짏뾴,퇐뺿쓚죝폐뷏듳뗄훘뗾탔ꆣ퇐뺿뷡맻웕뇩죏캪:훐맺웳튵뿧맺늢릺뗄풭틲ꆢ뚯믺쫇:(1)삩듳뺭볃맦쒣,뾪췘맺췢쫐뎡;(2)붵뗍뺭펪럧쿕;(3)믱뗃맺췢풴,믱뗃쿈뷸벼쫵;(4)쳡룟웳튵랢햹쯙뛈ꆣ훐맺웳튵뿧맺늢릺듦퓚뗄컊쳢폐:(1)튻뫥뛸웰,쪱믺늻돉쫬,튻킩웳튵뿧맺늢릺뻟폐쎤쒿탔;(2)쫕릺벼쟉헆컕늻릻,좱랦뿧맺늢릺뺭퇩;(3)웳튵뿧맺늢릺뫳뫶쫓헻뫏;(4)웳튵뿧맺늢릺쿠맘엤쳗뗄램싉늻붡좫;(6)죚쟾뗀늻붡좫;(5)웳튵뿧맺늢릺좱짙훐뷩믺릹뗄뷩죫ꆣ훐맺웳튵뿧맺늢릺뗄뛔닟쫇:(1)쫷솢튻룶럇뎣쏷좷뗄뿧맺뺭펪햽싔;(2)헽좷톡퓱쒿뇪웳튵;(3)맦뇜헾훎럧쿕;(4)뛠쟾뗀죚,붵뗍닆컱럧쿕;(5)볓잿늢릺뫳뗄죚뫏;(6)붡좫컒맺웳튵뿧맺늢릺뗄램싉쳥쾵;(7)믽벫랢햹맺쓚놾쫐뎡;(8)믽벫샻폃뿧맺늢릺뗄훐뷩믺릹ꆣ듓틔짏돂쫶뿉볻,컷랽랢듯맺볒웳튵늢릺뗄샺쪷뷏뎤,폐맘웳튵늢릺뗄퇐뺿웰쪼뷏퓧,뷒쪾뿧맺늢릺닺짺뗄풭틲벰웤펰쿬틲쯘뗄퇐뺿뷏돉쫬ꆣ훐맺폐맘웳튵늢릺ꆢ뿧맺늢릺뗄퇐뺿쯤좻웰늽뷏췭,떫퓚컷랽뺭볃톧볒뗄퇐뺿믹뒡짏ꆢ퓚훐맺룄룯뾪럅뫍죚죫쫀뷧뺭볃뗄듳뮷뺳쿂뷸햹톸쯙ꆣ뿉쫇컞싛죧뫎,탂뺭볃쪱웚뗄뿧맺늢릺폐웤쳘뗣뫍쳘쫢탔,뒫춳틢틥짏뗄럖컶뫍샭싛틑늻쓜뷢쫍좫쟲뗄뗚컥듎뿧맺늢릺샋뎱,맺쓚췢샭싛뷧뫍웳튵뷧폐듽폚뛔탂쪱웚뿧맺늢릺탂뗄쒣탍ꆢ탂뗄쫖뛎뷸탐첽쯷뫍쪵볹;폐듽폚뷸튻늽퇐뺿뿧맺늢릺뛔짧믡킧틦뫍짧믡뢣샻뗄펰쿬;폐듽폚퇐뺿뿧맺늢릺뛔랢햹훐맺볒뗄펰쿬틔벰랢햹훐맺볒죧뫎펦뛔ꆣ퓚좫쟲뺭볃튻쳥뮯뗄뷱쳬,훐맺웳튵ꆰퟟ돶좥ꆱ쫇짺듦랢햹뗄뇘뺭횮슷,뛸몣췢늢릺쫇훐맺웳튵ꆰퟟ돶좥ꆱ뗄훷튪랽쪽,헢쫇샭싛뷧뫍웳튵뷧뗄릲쪶ꆣ캪듋,샭싛뷧뛔훐맺웳튵몣췢늢릺뷸탐쇋튻뚨뗄퇐뺿,떫헢킩퇐뺿뚼쫇헫뛔쒳룶쳘뚨컊쳢뷸탐뗄퇐뺿,쟒훘뗾탔듳,좱랦쾵춳탔뫍좫쏦탔;뛸쟒맘폚훐맺웳튵죧뫎돉릦뗘쪵쪩뿧맺늢릺햽싔뗄퇐뺿돉맻뮹늻뛠,폐킩퇐뺿돉맻튲폐듽폚쪵볹뗄볬퇩뫍횤쪵ꆣ쯹틔,훐맺웳튵죧뫎쳡룟뿧맺늢릺뗄돉릦싊,훐맺웳튵뿧맺늢릺햽싔돉릦쪵쪩뗄맘볼쫇쪲쎴,훐맺웳튵뗄뿧맺늢릺죧뫎닙ퟷꆢ튵컱맽돌펦쫇퓵퇹뗄,헢킩컊쳢뚼쫇컒쏇떱잰탨튪뷸튻늽퇐뺿뫍첽쯷뗄ꆣ닎뾼컄쿗:[1]Muller,DenniS1Mergers,fromTheNewPalgraveDictionaryofMoneyandFinance[M]1TheMacmillanPressLimited,19921[2]K1D1Brouthers,P1Hastenburs&J1Ven1Ifmostmerg-ersfailwhyaretheysopopular?[J]1LongRangePlanning,June119981[3]쳀컄쿉,훬닅뇳1맺쓚췢웳튵늢릺샭싛뇈뷏퇐뺿[J]1뺭볃뺭캳,2004,(5):63ꆪ671[4]MichaelCraig1The50Best(andWorst)BusinessDeals[M]1FranklinLakes,NJ:CareerPress,20001[5]RobertJ1Borghese,PaulF1Borghese1M&AfromPlanningtoIntegration[M]1Auckland:TheMcGraw-HillCompanies,Inc120011[6]횣몣몽뗈1훐맺웳튵볦늢퇐뺿[M]1놱뺩:뺭볃맜샭돶냦짧,19991[7]닌쓾,뫎쿈뷸1훐쏀웳튵볦늢뚯믺뗄뇈뷏벰웴쪾[J]1뺭볃샭싛폫맜샭퇐뺿,2002,(4)1[8]럫룹뢣,컢쇖붭1컒맺짏쫐릫쮾늢릺벨킧뗄쪵횤퇐뺿[J]1뺭볃퇐뺿,2001,(1)1[9]랶듓살,풬뺲1돉뎤탔ꆢ돉쫬탔뫍쮥췋탔닺튵짏쫐릫쮾늢릺벨킧뗄쪵횤럖컶[J]1훐맺닺튵뺭볃,2002,(8)1[10]헅탂1늢릺훘ퟩ쫇럱뒴퓬볛횵:훐맺횤좯쫐뎡뗄샭싛폫쪵횤퇐뺿[J]1뺭볃퇐뺿2003,(6)1[11]쟘쾲뷜,돂뫩1돉릦늢릺:쒿뇪웳튵톡퓱싛[M]1놱뺩:뺭볃맜샭돶냦짧,20041[12]췵므쿩,짲뇾헤1컷랽뿧맺늢릺퇐뺿훐뗄쯄듳샭싛룙쇬[J]1닺튵뺭볃퇐뺿,2004,(2):27ꆪ301[13]역뇳,몫폱웴,쇖뺲1뿧맺늢릺춶뻶닟뗄쪵컯웚좨랽램퇐뺿[J]1벼쫵뺭볃2005,(3):64ꆪ661[14]폚퇐1뿧맺늢릺훐쪵컯웚좨뚨볛퓋폃랽램퇐뺿[J]1닆뺭퇐뺿2005,(4):112ꆪ1211[15]튶붨쒾,췵뫩퓋1뿧맺늢릺럧쿕솴벰웤럧쿕뿘훆[J]1맜샭뿆톧,2004,(10):64ꆪ681[16]솬믛1떱잰컒맺웳튵뿧맺늢릺럧쿕뗄럖컶[J]1훐맺뿆벼탅쾢,2005,(7):531[17]쯥쏴,헔톧잿1뛔컒맺웳튵뿧맺늢릺럧쿕뗄퓙쮼뾼[J]1즽뚫뺭볃,2005,(7)1ꆪ37ꆪ' 1994-2010 China Academic Journal Electronic Publishing House. All rights reserved.
놱뺩쫐뺭볃맜샭룉늿톧풺톧놨뗚21뻭뗚4웚ꆡퟜ뗚75웚ꆡ2006쓪12퓂ꆡꆡ[18]PorterM1E1CompetitiveAdvantage:CreatingandSustainingSuperiorPerformance[M]1NewYork:FreePress,19871[19]Haspeslagh,P1andJemison,D1ManagingAcquisitions:CreatingValueThroughCorporateRenewa[M]1NewYork:FreePress,19911[20]P1웕샯쟐쳘,D1슳뇶톷,쇨쿾욼1릺늢횮뫳:죧뫎헻뫏놻쫕릺릫쮾[M]1놱뺩:훐탅돶냦짧,19991[21]삭뷜뿆쮹,뚡믝욽,쯯쿈뷵1늢릺뗄틕쫵:헻뫏[M]1놱뺩:훐맺닆헾뺭볃돶냦짧,20011[22]췵,헅쿾뚫1싛웳튵늢릺뫳뗄헻뫏맜샭[J]1쿖듺뺭볃첽쳖,2000,(8)1[23]맘쇺,맘쳎1췢웳뿧맺늢릺뛔컒맺샻폃췢닟싔뗄펰쿬폫뛔닟[J]1쿖듺닆뺭,2005,(1)1ComparingStudyontheTheoryofMultinationalMergingWEICai2hui,WANGHui2min(BeijingInstituteofEconomicManagement,Beijing100102,China)Abstract:Asanextensionofenterprisemergingactivitiescrossingboundaries,:enterprisemerging;multinationalmerging(퓰죎뇠벭ꆡ췵ꆡ뻼)(짏뷓22튳)ExplorationoftheReformoftheManagementSystemofBeijingState2ownedAssetsWANGZhong2bing(BeijingTechnologyandBusinessUniversity,Beijing100037,China)Abstract:AlthoughsomeprogresseshavebeenmadetoacertainextentinthefiledofthemanagementsystemofBeijingstate2ownedenterpriseassets,,thepaperpointedoutthattheindustrialpositioningofthemiddle2levelenterprisesanddeepen2reformofstate2holdingcorporationscouldbeconsideredasabreakthroughofthemanagementsystemofBeijingstate2ownedenterpriseassets,:themanagementsystemofstate2ownedassets;industrypositionofstate2holdingcorpora2tions;breakthrough;specificpath(퓰죎뇠벭ꆡ얷퇴탂쓪)ꆪ38ꆪ' 1994-2010 China Academic Journal Electronic Publishing House. All rights reserved.
