上市公司混合购并效率分析

Analysis on the Efficiency of Conglomerate Mergers of Listed

通过建立博弈论模型 ,分析了公司治理结构中控制权与剩余索取权在三种不同的安排下公司购并的决策过程 ,论证了混合购并绩效不佳的原因 .建立经济学模型 。

Western countries′ conglomerate merger companies formed in the conglomerate merger wave become to pay attention to their corn business. Owing to shortcomings of our economic system, conglomerate merger is the main form in China′s M&A market. By using models of the Game, the article explains the reason that the efficiency of conglomerate merger is lower than that of the others. By means of economic model, the article analyzes three arrangements between demand for control and residual clains and their influence on the efficiency of conglomerate mergers.