现代企业兼并及兼并理论述评

Comment on Merger and Acquisition Theory

随着经济全球化的来临,企业兼并的浪潮西风东渐,国内企业兼并的数量、规模都有显著增长的趋势。目前也有许多研究兼并的文章,多数从资本运作的角度出发。本文从产业组织学的角度,把兼并划分为纵向兼并、横向兼并、混合兼并三大类,通过评述现代几种主要的兼并理论,来阐明三类兼并的动机、功能和作用。

With the development of globalization, the trend of merger and acquisition is rising in China There are lots of researches on Chinas enterprise merger and acquisition from capital operation perspective From industry organization perspective, this article divides merger and acquisition into three categories: vertical merger, horizontal merger and conglomerate merger The article evaluates several important merger and acquisition theories, comments on mergers motivations, function and actives