企业并购的博弈分析

Game Analysis of Enterprise Merger

并购是企业实现外部增长、多角化经营的一条捷径 ,亦成为我国调整行业结构、深化企业改革的主旋律之一。企业的并购行为实质是一种产权交易 ,是参与并购的局中人之间博弈的过程。企业的并购是经济资源配置和再配置的过程 ,是提高资源配置效率的有效途径 ,其目的在于不断调整资源拥有各方的经济利益 。

Enterprise merger is a shortcut of realizing outside growth and mixed managing, which also becomes one of the themes of adjusting the trade structure and deepening enterprise's reform in China. Enterprise merger is both a kind of property right transaction and a game of a lot of stakeholders participating in. It is the course of economic resources being regulated and re-regulated. It is also an effective way to improve the efficiency of resource allocation.