摘要
并购交易本身并不创造价值,并购价值创造的真正源泉是并购后的整合过程中并购双方竞争优势的双向转移。运用价值链的分析框架,分析5种并购整合模式产生的协同效应,进而对并购整合的价值创造机理进行分析。
M＆A transaction itself is not a process of value creation. A real value creation stems from a two-way transfer of the two sides＇ competition advantage in the post-acquisition integra- tion. In this paper, a value chain analysis framework was used to analyze synergy effects coming from five modes of post-acquisition integration, and then analyzed a value creation mechanism of post-acquisition integration.
出处
《大连海事大学学报（社会科学版）》
2008年第3期67-70,共4页
Journal of Dalian Maritime University(Social Science Edition)
关键词
价值创造
并购后整合
价值链
协调效应
value creation
post-acquisition integration
valuechain
synergy effect
