从利己性与利他性看企业并购的动因与结果

Motives and Results of M&A from the Aspects of Self-interest and Altruism

并购作为企业自我发展与资本经营的重要途径,在近代经济发展与企业成长史上扮演着重要的角色。国内外学者从经济学、管理学等不同学科对企业并购的动因、行为、结果(绩效)进行了大量而系统的研究,取得了显著的成果。从现代心理学的角度重新阐释企业并购的动因与结果,认为企业发起并购活动的最终动因可归结为利己,而利己动机驱动下并购结果却具有利他性。

As an important way of business development and capital management, M＆A plays an important role in the rood-. ern history of economic development and business growth. Scholars have made a large and systematic research on the M＆A motive, conduct and results from economics, management science and other disciplines. The author re-interprets the too- fives and results of M＆A from the perspective of modern psychology, and believes that the motives of M＆A activity can be attributed to self-interest while the results driven by selfish motives are altruistic.