地理科学进展 ›› 2017, Vol. 36 ›› Issue (11): 1423-1434.doi: 10.18306/dlkxjz.2017.11.011

• 研究综述 • 上一篇    下一篇

企业并购投资区位选择机理与效应的研究进展

吴加伟1,2,3(), 陈雯1,2,3,*(), 张鹏1,2,3   

  1. 1. 中国科学院南京地理与湖泊研究所,南京 210008
    2. 中国科学院流域地理学重点实验室,南京 210008
    3. 中国科学院大学资源与环境学院,北京 100049
  • 出版日期:2017-12-07 发布日期:2017-12-07
  • 通讯作者: 陈雯 E-mail:jwwu@niglas.ac.cn;wchen@niglas.ac.cn
  • 作者简介:

    作者简介:吴加伟(1990-),男,江苏南京人,博士生,研究方向为产业地理、城市发展与区域规划,E-mail: jwwu@niglas.ac.cn

  • 基金资助:
    国家自然科学基金项目(41130750,41671133);国家社会科学基金项目(15BJL043)[Foundation: National Natural Science Foundation of China, No.41130750, No.41671133;National Social Science Foundation of China, No.15BJL043

A literature review of merger and acquisition (M&A) study from the geographical perspective: Location choice, driving mechanism and implications

Jiawei WU1,2,3(), Wen CHEN1,2,3,*(), Peng ZHANG1,2,3   

  1. 1. Nanjing Institute of Geography and Limnology, CAS, Nanjing 210008, China
    2. Key Laboratory of Watershed Geography, CAS, Nanjing 210008, China
    3. College of Resources and Environment, University of Chinese Academy of Sciences, Beijing 100049, China
  • Online:2017-12-07 Published:2017-12-07
  • Contact: Wen CHEN E-mail:jwwu@niglas.ac.cn;wchen@niglas.ac.cn

摘要:

全球跨境与本土并购活动日益频繁,有效地促进了企业各类要素跨区域、跨部门流动,是产业转型与空间重构乃至重塑区域经济地理格局的重要动力。企业并购逐渐成为经济地理学界研究的重要内容。相关研究利用经典区位分析、企业组织及空间扩张、产业地理集聚、全球生产网络(GPNs)等经济地理学理论和方法,从企业自身组织与空间结构演化、企业间及地方多维临近性等角度,广泛探讨了企业并购投资区位选择的时空特征、形成机制及其空间效应等议题。主要研究结论为:①企业并购投资区位选择在不同空间尺度上均呈现“核心—边缘”结构,而企业所在区域和行业属性,企业间地理、组织、认知临近性,地方间经济社会联系等是其重要影响因素。②企业并购投资的空间效应主要体现在企业增长及其空间扩张、产业转型与空间重构,区域经济发展、劳动力就业、地方商业与制度环境、区域差异与区域一体化等方面。在总结国内外研究成果的基础上,本文指出中国经济地理学领域企业并购研究的不足和方向,以期为相关研究提供有益借鉴。

关键词: 企业并购投资, 区位选择, 机理, 空间效应, 研究进展

Abstract:

Cross-border and domestic mergers and acquisitions (M&As) have undergone a rapid growth in recent years, which has facilitated the mobility of various elements across different regions and sectors. Therefore M&As are considered an important impetus and solution for the optimization of enterprise organization, industrial transformation, and spatial restructuring, as well as regional integration and sustainable development. Since the 1950s, there has been a vast literature straddling the boundaries of economics, enterprise managerialics, international trade studies, and economic geography on M&As. The literature mainly focused on three perspectives, namely organizational perception, interaction or networks perspective, and a contextual or spatial view of the firms involved in M&As. Taking advantage of theories and methodologies in relevant research fields, such as location theory, corporate geography, industrial agglomeration, and global production networks and proximity, scholars have done much effective empirical work on this issue. First, the spatiotemporal pattern and contacting networks of M&As have been investigated in various spatial scales, such as worldwide, inter-countries, and inter- and intra-regions. Second, deriving related theories, the literature focused on the driving factors and dynamic mechanism of M&As, especially the heterogeneities of enterprise characteristics, industrial attributes, and locational context. Third, the literature has paid increasing attention to the locational implications of M&As for corporate performance, public welfare, industrial transformation, and regional development, and the spatial consequences of M&As is a hotspot for related studies. Although cross-border and domestic M&As taken by Chinese corporates are increasingly frequent since the global financial crisis, research on M&As from spatial and geographical perspectives in China is far from sufficient. Therefore, this literature review focuses on the progress in theoretical perspectives and empirical research on M&As, and explores the implications and agendas for further research on M&As in a transitional China.

Key words: merger and acquisition, location choice, driving mechanism, locational implications, literature review