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1、畢業(yè)設(shè)計(jì)（論文）外文文獻(xiàn)翻譯文獻(xiàn)、文獻(xiàn)、文獻(xiàn)、文獻(xiàn)、資料來源:資料發(fā)表（出版）日期:資料中文題目：中國的新興跨國公司跨國并購的動態(tài)資料英文題目：院（部）：專業(yè)：班級：姓名：學(xué)號：指導(dǎo)教師:翻譯日期:2017.02.14外文翻譯及原文Theoriginal：DynamicsofChineseemergingmultinationalsincross-bordermergersandacquisitions1.IntroductionChina’semergingmultinationals(CEMs)havedevelopedthems
2、elvesinrecentyearsintokeyplayersintheinternationalbusinessarena，seekingviablecross-bordermergerandacquisition(M&A)opportunities(NolanandZhang，2003;RugmanandLi，2007;Morcketal.，2008).Theseactivitiesappeartobeintensifying，asChinahasacriticaldomesticmarketbaseandeconomyofsc
3、alethatsupportsCEMs’overseasexpansions.WhileanumberofCEMsarestate-ownedenterprises(SOEs)，theirexpansionshavebeenpredominantlyassociatedwithinvestmentsindevelopingeconomiesinAsiaandAfricaduetoasimilarinstitutionalenvironmentaswellasarichnessinnaturalresources，respectivel
4、y(RugmanandLi，2007;Morcketal.，2008).Inaddition，itisobservedthattheseM&AsmightalsobemotivatedbyseekingknowledgecapabilitiesasChinahasrapidlyemergedintheglobalarena.CEMsmaywellrealizeacompellingneedtoacquirecriticalknowledgeintheformoftechnologicalcapabilities，managementa
5、ndstrategyskillsinadvancedeconomies(RugmanandLi，2007).BeingsuccessfulatacquiringknowledgeassetsthroughM&AinitiativesmaybeamoredifficultchallengeforCEMthananticipated.RugmanandLi(2007,p.336)explain:First，theChineseacquirers’lackofexperienceininnovativeactivitiesmakesitdi
6、fficulttorecognizeandabsorballthepotentialvalueoftheacquiredcompanies.Second，lackofexperienceininternationalacquisitionlikelydelaystheknowledgetransferandintegrationprocess.Last，theChineseMNEs(multinationals)stilllacktheinternalmanagerialcapabilitiestointegrateforeignac
7、quisitionstodevelopanythingresemblingdynamiccapabilities.Despitesuchscepticism,thereappearstobelittleunderstandingabouttheimplicationsoftheemergenceforCEMsthatseektoacquireknowledge-intensiveassetsthroughcross-borderM&As.Forexample,howwouldtheiruniqueculturalcharacteris
8、ticsaffecttheirdevelopmentofdynamiccapabilitieswhiletheyaretransformingthemselvesintomultinationalcorporations
