中文摘要：

中国企业在面临复杂的全球竞争环境且自身能力不足的情况下，通过双元并进战略获取海外技术．面临利用型战略和开发型战略之间的矛盾。本文选取北京重工并购日本长野和意大利TGF的案例，通过对两次并购进行横向对比和深度挖掘，提出了新兴市场企业海外并购技术获取过程中平衡利用型战略和开发型战略之间矛盾的分析框架和解决方案。具体而言，技术获取过程中存在三个需要平衡的问题，本文对三个问题分别归纳出一对悖论．即相似知识库强化与互补知识库创新悖论、效率与灵活性悖论、利润与突破创新悖论。在此基础上．分析了“悖论整合”的管理思路是如何帮助组织平衡每对悖论的两个端点．从而有效平衡双元战略之间的矛盾。最后，提出新兴市场企业双元并进战略“悖论中整合、相克中相生”的AIA路径。即“消化-整合-运用”路径，为平衡战略矛盾提供了有借鉴意义的思路。

英文摘要：

The challenging tension between exploitation-exploration for Chinese companies stems from the competitive global environment and their late-comer disadvantage when they are sourcing new technologies through cross-border M＆A. By deeply analyzing and comparing JCHI＇s acquisitions of NKK and TGF, this paper offers an alternative framework and solutions for balancing exploitation-exploration tension when emerging market muhinational enterprises source technologies abroad. More specifically, we present three opposing points that need to be balanced and explore three paradoxical conclusions： exploitation from a similar knowledge base-innovation from a complementary knowledge base, efficiency-flexibility, and profit-breakthroughs. We theorize how paradoxical integration helps manage the interwoven tension, and thus balances the tension between exploitation and exploration. Further, the Assimilate-Integrate-Apply （AIA） path which is contradictory and interdependent and integrated in this paradox, suggests a new behavior logic and path for Chinese companies when they follow an ambidextrous strategy.