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在西方发达国家,资本经营已有一百多年的实践历史,而在我国,资本经营还是一个比较新的事物,许多企业进行了资本经营的尝试,有较为成功的,但也有相当数量的企业非但业绩未得到改善,反而还背上了沉重的包袱,有些企业在并购伊始“举杯庆贺”,然而未经几年,并购企业没有救活,并购者却被拖跨了。虽然失败的原因很多,但非常重要的一条是未能结合企业自身的核心能力和企业发展战略目标来进行资本经营,因而其效果只能适得其反。
In western developed countries, capital management has a history of more than a hundred years of practice. In our country, capital management is still a relatively new thing. Many enterprises have tried capital management more successfully, but there are also a considerable number of enterprises Not only the performance has not been improved, but also carries a heavy burden, some companies at the beginning of the merger to “toast” celebration, but after a few years, mergers and acquisitions business did not save, mergers and acquisitions have been dragged across. Although there are many reasons for the failure, the very important one is the failure to combine the core competence of the enterprise with the strategic objectives of the enterprise for capital operation. Therefore, its effect can only be counterproductive.