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德陽翻譯公司關鍵字： At the same time, multinational-led global foreign direct investment has also increased dramatically. According to UNCTAD statistics, world FDI inflows increased from $ 209 billion in 1990, rising to $ 865 billion in 1999, an increase of 31 times. 1991-1995, of which the average growth rate of 20% from 1996 to 1999 31 9%. The early 1990s, foreign investment in developed countries, 80% are completed by the multinational companies, to the late 1990s, multinational direct investment accounted for the proportion of total foreign direct investment as high as 90%. The acceleration of international capital, bringing further development of global economic integration, but also more attention to the introduction of foreign countries, have introduced various incentives to attract multinational companies to their investment, to attract foreign investment and domestic economic development are closely linked . Can be predicted, multinational direct investment in the global foreign direct investment in the ratio will be further enhanced.2, multinational mergers and acquisitions lead to multinational foreign direct investment is a major force growth.
Transnational M & A activity among developed countries to achieve the main form of foreign direct investment and content. Here we must point out that the expansion of multinational companies began in the early 1980s with several global wave of mergers and acquisitions has a direct relationship, many multinational companies have increasingly mergers and acquisitions as the new industries, new markets ahead of the most convenient one ways. From the late 1980s to the beginning of this century, ten years of development, most of the growth of international production is through cross-border mergers and acquisitions, joint cross-border mergers and acquisitions have been completed in value from $ 100 billion in 1987 to 1999 year $ 720 billion, accounting for global foreign direct investment 83.2%. 1991 to 1995 the average annual growth rate of cross-border mergers of multinational corporations was 3.3%, while from 1996 to 1999 the average annual growth rate of 50%. Among them, the most significant growth in 1998, total global multinational mergers and acquisitions jumped 74% over the previous year, reaching $ 531.6 billion,. M & A transactions in 2000 multinational companies continue to grow, the total amount of up to $ 1.2 trillion, an increase of 1999 off than 21.5%. Growth in cross-border mergers and acquisitions to become a major force in international investment.
Such cross-border mergers and acquisitions show a clear trend: mergers and acquisitions mainly concentrated in developed countries, particularly the United States and the EU. According to statistics from 1987 to 1993, in mutual investment among enterprises in developed countries (including the host country for foreign investment in domestic companies), mergers and acquisitions, the average total amount of 66% of total investment. In 1998 the United States and Britain is still the biggest sellers and buyers, the two countries accounting for a total of about half the total value of cross-border mergers and acquisitions. In the late 1980s wave of mergers and acquisitions, foreign companies the amount of U.S. mergers and acquisitions, business investment had accounted for more than 80%, this proportion increased further in the 1990s there, one of the most prominent in the 1994 This proportion was as high as 91.2%, much higher than create business investment in the proportion of total investment. At the same time, cross-border mergers and acquisitions amount of money involved is also growing, there have been many cases of mergers and acquisitions heavily. For example in the U.S. financial sector merger wave in 1998, the banking giant Citicorp and Travelers Group merged to form the world's largest financial services company, worth $ 70 billion involving huge amounts of money; National Bank and Bank of America Corporation announced that the company merged to form the nation's largest commercial bank assets totaled $ 570 billion, and so on. These huge M & A transactions accounted for more than 60 percent of total FDI flows and largely affect the size and direction.
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