CAJ | 학술논문

文章以我国上市公司2002-2012年发生的跨国并购事件为研究样本，运用回归分析法，证实了民族文化距离和组织文化距离确实会对跨国并购绩效产生不利影响。在此基础上，文章引入调节变量进一步探索“缩短”文化距离的途径，发现主异方的企业成热度、并购后主卉企业对被并企业的控制程度和主并方所属国家在被并方所在国的种群密度都能显著减弱民族文化距离和组织文化距离对跨国并购绩效的不利影响，从而为我国企业进行跨国并购提供了决策依据。
문장이아국상시공사2002-2012년발생적과국병구사건위연구양본，운용회귀분석법，증실료민족문화거리화조직문화거리학실회대과국병구적효산생불리영향。재차기출상，문장인입조절변량진일보탐색“축단”문화거리적도경，발현주이방적기업성열도、병구후주훼기업대피병기업적공제정도화주병방소속국가재피병방소재국적충군밀도도능현저감약민족문화거리화조직문화거리대과국병구적효적불리영향，종이위아국기업진행과국병구제공료결책의거。
With the cross-border mergers and acquisitions which occurred in 2002--2012 as samples, this study confirmed that both the national cultural distance and the organizational cultural distance adversely affect the performance of cross-border mergers and acquisitions by applying regression analysis. Then this paper explored the approaches to ＂shorten＂ cultural distance through introducing the moderating factors and found that acquiring enterprises＇ maturity, the control of acquiring enterprises over the acquired enterprises, the population density of the country to which the acquiring enterprises belong in the country to which the acquired enterprises belong can significantly reduce the adverse effects of the national cultural distance and the organizational cultural distance on the performance of cross-border mergers. The research findings can contribute to decision making on cross - border mergers and acquisitions of Chinese enterprises.