Chinese Direct Investments in Germany - Strategies, Realization, and Consequences of Chinese Take-overs of German Enterprises

近年来，中国企业的对外直接投资，特别是对发达经济体的对外直接投资发展非常迅速。随着中国经济政策从廉价的中国政策转向升级产品和生产，中国投资者对德国企业的收购数量大幅增加。然而，关于在企业微观层面上实现这种接管的知识仍然很少。这一研究差距将通过这里提出的研究项目来弥补。研究将涉及四个问题：(1)哪些目标和背景条件(对中国投资者和对德国目标公司而言)是影响收购的因素，以及收购过程是如何实现的？(2)在收购期间和之后，中国总部和德国子公司之间的日常合作是如何表现的？(3)中国投资者的接管对德国子公司产生了哪些(中长期)后果？以及(4)如何解释已确定的、典型的过程和结果？现有的理论在多大程度上需要扩展或修改？这些研究问题将在采用案例研究方法的定性研究设计中进行调查。

Foreign direct investments (FDI) of Chinese Enterprises, especially those into developed economies, have developed very dynamically in recent years. As Chinese economic policies have been re-directed from a >cheap China< approach (Rein 2012) to an upgrading of products and production, take-overs of German companies by Chinese investors have increased considerably in number. However, knowledge regarding the realization of such take-overs on the micro-level of the enterprise is still scarce. This research gap will be addressed by the research project proposed here. Four research questions will be addressed: (1) Which objectives and which context conditions (on the side of the Chinese Investor, and on the side of the German target company) are informing the take-over and how is the take-over process realized? (2) How is day-to-day cooperation between the Chinese HQ and the German subsidiary displaying during and after the take-over? (3) Which (middle-range and long-term) consequences does the take-over by a Chinese investor have for the German subsidiary? And (4) how can the identified, typical processes and consequences be explained? In how far are existing theories to be extended or modified? These research questions will be investigated within a qualitative research design employing a case study approach.