政府干预、企业并购与区域经济社会发展

Government Intervention,M&A and the Development of Regional Economy and Society

立足于宏观层面,研究了企业并购以及政府干预下企业并购的社会效应。研究发现:企业并购对地区经济社会发展、地区经济增长、职工工资水平以及财政收入都具有正向的促进作用;市场化程度高的地区,国企并购对区域发展和民生改善的积极效应更为显著;政府干预企业并购对地区经济社会发展具有积极的影响,但是对地区经济增长、职工工资收入和政府财政收入等方面的作用不明显,本文推论国企并购的有效领域可能是其他社会民生方面,如生态建设、科技创新等领域。

This paper,from macro perspective,studies the social impact of enterprise mergers and acquisitions（MA）as well as the impact of MA under the government intervention.We show that,（1）MA plays a positive role in promoting the regional social development,economic growth,wages of workers and fiscal revenue;（2）government intervention in enterprise MA has a generally positive impact on the regional development and improvement of people＇s livelihood.However,the government intervention does not have significant impact on the economic development,wage level and government revenues.We believe that the ＂effective area＂of the government intervention may be the ecological construction,scientific and technological innovation,and so on.