Abstract: Any practice is carried out under the guidance of some theory. Merger and acquisition theory in enterprise can date back to Marxs theory of capital concentration. The law of market economy just is capital concentration, so merger and acquisition in enterprise must be based on rules of market economy; crossborder mergers and acquisition is commonly used by transnational corporations as a way of capital export. When the capitalist mode of production develops to a certain level, because it wants to expand production and business activities to gain more profit, transnational corporations will export capital.

Key words: merger and acquisition, capital concentration, capital export

摘要： 任何实践活动都是在一定的理论指导下展开的。企业中的并购理论基础最早可以追溯到马克思的资本集中理论。市场经济运行的规律是资本集中，企业要以市场经济规律为出发点实施并购；跨国并购是跨国公司常用的一种资本输出方式。当资本主义生产方式发展到一定水平时，跨国公司想要扩大生产经营活动，获得更多的收益，必然会进行资本输出。

关键词: 并购, 资本集中, 资本输出