兼并与收购【外文翻译】

《兼并与收购【外文翻译】》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、本科毕业论文外文翻译外文题目：MergersandAcquisitions出处：TheNationalInterest—Summer200作者：RichardRosecrance原文：MergersandAcquisitions.------------------------------------RichardRosecranceTalkaboutempirehasbecomeacliche.HistoriansandeconomistsbusythemselvescomparingAmerica'sco

2、ntemporaryrolewithRome,NapoleonicEranceandimperialBritain.Theyassumethatempireistheonlymodelforastateseekingtoprojectpowerandinfluence—ignoringalternativesfromthebusinessworld.Afterall,businessesconfrontmanyofthesamedifficultiesthatstatesface.Whencompetitor

3、semerge,firmsundergopressure.Acorporationmayreducethecostofitsproductsbycuttingthecostsofrawmaterialsandlabor,increasingsalesandfindingnewtechnologicalfixes—justasastatemighttrytoincreaseeconomicgrowth,enhanceproductivityordevelopnewweaponssystems.Butifacom

4、panyreachestheHmitsofitseconomicmarket,itmayconsideramergerwithlike-mindedcompaniestocopewithacompetitor.Statesreachingthelimitsoftheirviabilityasself-sufficientactorscanadoptmergerstrategies,too.Indeed,topreserveitsglobalinfluencethroughoutthecourseofthe21

5、stcentury,thisisapaththeUnitedStatesmustconsider.Whydocompaniespursuemergers?Mergersgivecompaniesgreaterflexibility.Theyachievegreaterscalewithoutincreasingproduction.Ifnewproductsareinvolvedinthemerger,acombinedfirmcanavoidanti-trustproblems.Largerscaleall

6、owsacompanytomaintainitspositionintheindustry.Usuallyitcaninvestinnewproducts,runhigheradvertisingbudgetsandsometimesachievelowerprices.Alargeproducercangetrawmaterialsatreducedcost.Wal-Mart,thecontemporaryexemplarofcorporateexpansion,hasnotshrunkfromplungi

7、ngintonewmarketsandcuttingprices—therebyforcingthemergerbetweenK-MartandSears.NowGilletteiscombiningwithProctorandGambletooffsetWal-Mart'sdominationinthehouseholdsector.Verizon'ssuccessincommunicationsisprovokingaconnectionbetweenNextelandSprint,andVerizoni

8、sinturnseekingtoacquireMCI.OracleandPeopleSoftaremergingtocounterSAPinenterprisesoftware.Hewlettt-PackardmergedwithCompaqtomatchDellComputer'sgainsandisopentonewmergerstrategies.Mergersgivenationssimil