企业横向购并最佳规模的分析

Analysis of Optimal Scale of Horizontal Mergers

企业的最佳经济生产规模是多种因素决定的，如生产技术、生产成本、劳动力素质、决策层管理水平等，如何通过横向购并达到最佳经济生产规模至今没有统一的购并规模决策依据，本文按照利润、销售额和资产收益率这三种不同的企业经营目标分别研究了一般竞争和寡头垄断两种市场结构下企业的最佳购并规模．在寡头垄断竞争市场结构下，企业实施横向购并后，将形成新的市场结构，在新的市场均衡中，企业有可能发现自己仍未达到最佳生产规模，这时企业可以进一步继续分析，得出新一轮的购并规模．

How to decide the optimal scale in horizontal merger is discussed. The optimal scale of horizontal merger is drawn separately on the managing goal assumption of profit, sale and rate of returns under the market conditions of competition and oligopoly by applying the concept of restrained optimum. Under the market condition of oligopoly, new market conditions will be created after the horizontal merger occurs, and new optimal scales of the horizontal merger will be drawn continuously.