IT企业购并中信息不对称问题

Study of Asymmetric Information in the Merger between IT Firms

本文是以 IT产业为背景 ,针对以技术获取为导向的大型 IT企业对小企业的购并活动 ,利用博弈论模型对购并中信息不对称问题进行了研究 ,并解释了此类购并市场中逆向选择现象存在的原因及前期开发的意义 ,同时 ,文中就信号传递博弈中分离均衡存在的条件与前期开发成本的关系进行探讨。

In the light of the tech-gain oriented merger between bigger firm and small firm in IT industry, this paper, using the game theory, discusses the asymmetric information of this kind of merger, and gives the reason of adverse selection and the pre-research of small firms in this kind of mergers. Furthermore, this paper studies the relation between the existing condition of separating equilibrium and the cost of pre-research.