多國籍企業의 企業合倂·買收(M&A)에 관한 硏究 = A Study on M&A by Multinational Enterprise(MNE)

다국어 초록 (Multilingual Abstract)

M&A (Mergers and Acquisitions) means unified concepts for integrated single enterprise and to abtain asslets or stock acquirement and management right, etc.
MNE's M&A is one of the FDI as well as licensing. Joint Venture.
Motivation of M&A is promotion of enterprise growth, increasing of capital capacity, dissipation of management risk, diversification of production, acquirement of the able man, etc. By these factors, MNE' promote MNE's growth strategy and reconstructing.
The style of M&A is mainly hostile TOB. this method is acquisited by open stock market through unknownstock holders and counter moving on hostile TOB is rely on Staggered Board, Poison-Pill, super Majority, Pac-man Defense, etc.
In these days, MNE's M&A is increasing, because M&A is favor asset acquirement, increasing of banking facilities's funds, development of M&A techniques, Junk Bond, LBO, etc.
By these purposes, in 90's korea enterprises must be promoted M&A to counter moving international competitive power's weakening by Won(￦) currency evaluation, trade barrier's increasing by strenthening of protectionism and bloc formation of world economics.
Effectived M&A policies by these factors, as following ;
① M&A techniques must be studied on staggered board, poison-pill, pac-man defense, super majority, etc.
② M&A related organ (banking facilities, M&A consulting, brocker, etc) must be established M&A professional department and serve information.
③ Training of M&A specialist
④ M&A promotion to counter moving against bloc information of world nconomic and enlargement of goverment financial funds.
Otherwise, in domestic M&A policies, as following ;
① MNE's M&A must be counter moved by development of management environment and strenthening of financial standing as restructuring of comparative disadvantage industries.
② foreign M&A of comparative advantage industris must be protected by staggered board, pac-man defense, super majority, poison-pill as M&A defense techuiquies.

목차 (Table of Contents)

• Ⅰ. 緖 論
• Ⅱ. 企業倂合 買收(M&A)에 관한 一般的 考察
• 1. M&A의 槪念
• 2. M&A의 形態
• 3. M&A의 背景 및 動機
• 4. M&A의 效果
• Ⅲ. M&A의 發主原因에 관한 諸理論
• 1. 財務利益動機論
• 2. 經營目的動機論
• 3. 效率性理論
• 4. 剩余資金理論
• Ⅳ. 多國籍企業의 M&A 戰略
• 1. 철저한 企業買收의 準備
• 2. 企業買收의 技法
• (1) Junk Bond
• (2) LBO
• (3) TOB
• 3. M&A의 進行過程
• 4. 多國籍企業의 성공적인 M&A 要因
• Ⅴ. 主要國에 M&動向과 展望
• 1. 美國
• 2. 日本
• 3. 유럽
• 4. 韓國
• Ⅵ. 要約 및 結論
• <參考文獻>
• <Abstract>