国美兼并永乐后的规模经济分析——基于全要素生产率测算法

A Scale-Economic Analysis of Gome and Yongle's Merger Using the Total Factor Productivity Calculating Approach

2006年国美和永乐兼并的结果是使得前者成为中国家电市场中的行业龙头。国美在香港成功上市,使国美有能力扩大它的销售网点布局,向着规模经济发展的方向迈出坚实的步伐。当今国美是否具有真正意义上核心竞争力呢?本文试图运用全要素生产率测算的方法结合使用EVIEWS5.1计量分析软件来共同构建经济学模型,从规模经济的角度入手来分析这次兼并的经济学意义,探索国美规模经济程度,最后从中找出了一些影响家电连锁行业规模化进程的因素以及对兼并后可能存在的问题提出了一些自己的看法和解决措施。

With Gome and Yongle＇ s merger on November22, 2006, Gome became the leader of the Chinese household appliances market. Large amounts of fund have rushed into Gome from the capital market after its successful listing in HongKong and it is able to expand its layout of sales networks and to march forward towards scale economy steadily. Does Gome achieve its aims at the outset and become the demonstration of Scale-Economic household appliances chain enterprise in a real sense one year later？ Does Gome own core competitiveness in a real sense now？ This article tries to construct economic models by using the Total Factor Productivity Calculating Approach and EVIEWSS. 1 measurement analysis software. It analyses economic significance of this merger from the view of scale economy and explores the degree of Gome＇s scale economy. Towards the end, this article finds the factors which influence scale-process of household appliances chain enterprise and advances the authors＇ view on how to solve problem after the merger.