摘要
企业并购成为了中小企业实现快速壮大的重要方式,企业并购效率较高,中小企业通过并购可以产生规模经济、优化资源配置、降低交易成本、加速科技发展、增加市场份额等效应,增强公司的竞争力。本文通过对2006年我国中小上市公司并购事件的相关实证研究,结果显示:并购作为一种重要的控制权转移方式对促进中小成长具有积极意义;中小上市公司并购后的整合问题是决定并购效率的重要因素;中小上市公司并购还具有外部控制权治理的功能。
Economy of scale,optimization of resource allocation,reduction of costs,rapid development of science and technology and large market shares are signs of efficiency gaining from M＆A.In drastic competition M＆A is the crucial means of expanding SMEs.This paper makes an empirical study on the M＆A events of the listed SMEs in China in 2006.The results demonstrate that：（1） as a way of control right shift,the merger and acquisition has a positive effect on promoting the growth of the listed SMEs;（2） the integration of the listed SMEs after their M＆A is a decisive factor to M＆A efficiency;and（3） the M＆A of the listed SMEs also has the function of governing exterior control right.
出处
《系统工程》
CSSCI
CSCD
北大核心
2012年第4期88-93,共6页
Systems Engineering
