利用企业并购建立循环经济的制度分析

循环经济以其清洁生产和资源节约的特征成为未来经济发展的模式。循环经济的特点要求必然以制度作为重要保障。目前，建立循环经济制度中企业内部制度是一个非常重要的组成部分。它不仅可以节约制度成本，而且也可以运用市场机制调动企业建立循环经济的积极性，企业并购方式是实现外部制度内部化、充分利用企业内部制度优势建立循环经济的重要途径。而国家政策引导、税收优惠及财政补贴可以促进这种并购行为的进行。

The Institutional Analysis for Establishing Circular Economy by Enterprise Merger and Acquisition

Circular Economy has become a development mode for future economy because of its characters of clean production and resource conservation. To realize the Circular Economy, management institution is an important factor. At present, the enterprise＇s internal system is very important for establishing Circular Economy. It may not only reduce the management cost, but also activate enterprise by market mechanism. The enterprise merger and acquisition is the most important approach for enterprises to realize external institution internalization and circular economy. The preferential polices, taxation and fiscal subsidies may promote the enterprises merger and acquisition.