博弈论视角下企业并购策略研究

The Study of M&A Strategy Based on Game Theory

企业并购活动是并购参与各方博弈的过程。运用博弈模型分析简单的企业并购活动,接着建立了政府参与背景下的企业并购博弈模型。在政府参与的情况下,企业的策略很大程度上受到了政府策略的影响,因此,政府在参与企业并购时,应该谨慎选择策略。即使涉及到国有企业并购,无论其是并购企业,还是目标企业,政府进行角色定位时都应该从全局出发。尤其在跨国并购中,政府的作用非常明显,政府更应该为本国的产业安全与经济安全考虑。

M＆A is the parties involved in the process of the game theory. At first, it analysis a simple model of M＆A, followed by the establishment of the Government＇ s involvement in the context of the M ＆ A game model. Government involvement in the case, the enterprise＇ s strategy was changed. Therefore, the participation of enterprises M＆A, should be careful choice of strategy. Especially in cross - border M＆A, the role of government is very clear that the Govermnent should for the country＇ s industrial security and economic security considerations.