跨国市场竞争企业合并决策研究

通过构建一个两阶段古诺模型研究在跨国市场竞争的企业合并行为,发现企业的合并选择与国外市场相对规模、合并带来的边际成本降低程度相关,只有当国外市场规模变小或合并能够降低成本的程度较大时企业才会愿意合并。根据模型,促进整体福利的政府政策也应有针对性:对于能够带来提高生产效率的合并,政府应提供充足资金和政策支持;对于不能提高生产效率的合并,政策应激励企业进行研发和创新。

Merger Decision of Competitive Enterprises in Multi-national Markets

This paper constructs a two-stage model of Cournot to study cross-market competitive enterprise's mergers.It shows that enterprise's merger selection is correlated with the relative size of foreign markets and marginal cost that merger brings.Only when the foreign market is small or the reduction of production cost is relatively higher,are enterprises likely to merger.The policies facilitating total welfare should be pointed.For those that can improve the production efficiency,the government should provide ample funds and supportive policies.Otherwise,policies should encourage the enterprises to develop and innovate.