整合经理在并购整合中的角色和职责

从并购频繁发生的西方国家的整合工作实践来看，一人新的管理职位－ 整合经理正在应运而生。目前，在欧美国家整合经理已成为整合工作的核心人物，在并购中发挥着举足重的作用。本将对整合经理的存在需要、角色定位、选拔标准、职责规划等问题进行分析，力图色勒出其在企业并购中的地位和活动情况，为我国企业并购活动提供一点可资借鉴的信息。     

An integrated theory of the economic long wave

Since 1975 the System Dynamics National Model has been the vehicle for the development of an endogenous, dynamic theory of the economic long wave. The model has now reached the point where an integrated theory of the long wave can be described. Simulations of the model are presented to show the wide range of empirical evidence accounted for by the model. In particular, the theory suggests the long wave arises from the interaction of two fundamental facets of modern industrial economies-the existence of physical lags in the economy, limited information available to decision makers, and bounded rationality in economic decision making creates the potential for inherently oscillatory behaviour; second, self-reinforcing processes involving many sectors of the economy exist which destabilize the inherent oscillatory tendencies of the economy, leading to the long wave. The relative strengths of these mechanisms, the amplification of the long wave through their interactions, and the linkages of the long wave theory to innovation, technological progress and political value change are discussed.     

企业并购过程中企业文化融合问题的研究

随着经济的发展和企业竞争趋势的加强，企业并购亦愈演愈烈。在企业并购过程中，最为关键也最难处理的问题便是企业间文化的融合。剖析了企业文化的内涵，并针对企业并购过程中，企业文化的融合中出现的几种常见问题，提出了几种企业文化选择的标准以及其标准的理由。结合实例具体说明这些标准在实际企业并购过程中的操作运用。在此基础上，进一步深化了企业文化对企业并购的实际意义。     

村庄合并的后期效应调研——以浙江省TY村为例

江浙一带多数地区的村庄合并（又称村规模调整）政策已实施数年。以浙江省TY村为例,并村后,其村级组织运行更为顺畅,公共服务水平更是不可同El而语,乡村面貌也焕然一新,各项成效显著。但仍然存在着一定的问题,如派系之争加重,公共服务经费短缺,“服务半径”过大等。因此,必须提升村干部的素质和大局思维,缓解派系之争,并想方设法发展集体经济,同时增加二级服务点,方便村民办事,以保障并村后取得的成果能长效稳健的维持下去。     

Using merger simulation models: Testing the underlying assumptions

Merger simulation is now widely used by economists to evaluate the likely competitive effects of a proposed merger. However, the reliability of a given merger simulation depends crucially on the reliability of the data used and the assumptions made. We discuss tests that can be used to assess the reliability of a merger simulation and show how these tests were applied in the context of the Volvo–Scania merger.     

Investment bank reputation and shareholder wealth effects in mergers and acquisitions

This paper investigates the relationship between the reputation of investment banks employed in mergers and acquisitions transactions and the resulting wealth effects. Two hypotheses are tested: the superior deal hypothesis, stating that high reputation advisors suggest deals with higher overall transaction gains; and the bargaining advantage hypothesis, stating that the larger share of transaction benefits is attributed to the party employing a highly reputed advisor. Evidence from 285 European M&A-transactions announced between 1997 and 2002 does not support any of these hypotheses. On average, wealth effects are not significantly different for transactions advised by different advisor tiers.     

Hierarchical impacts of the length of technology waves: An analysis of technolabor homeostasis

This work is based on the postulate that the hierarchical order of technology development can be maintained by a subtle balance between technology waves having different lengths, and that the current collapse of the “virtuous cycle” between technology development and economic growth can be attributed to a stall in the balance of technology waves. This paper examines the subtle technolabor relationship of Japan's electrical machinery industry, and supports such phenomena by demonstrating the hierarchical impacts of the length of technology waves.     

The long-term impact of mergers and the emergence of a merger wave in pre-World-War I Germany

Using annual data on mergers for 35 leading German companies from 1870 to 1913, my study tries to explain the first merger wave that emerged 1898. My panel probit model that accounted for economies of scale, macroeconomic conditions, success of former mergers, and market structure revealed that previous mergers made subsequent mergers more likely. The propensity to merge was higher for larger companies that increased their market power. In the banking industry, managers imitated mergers, although these mergers were not successful, and hence followed the minimax regret principle. Rational information-based herding caused the serial dependency of mergers in other industries.     

并购企业结构整合管理研究

并购是实现企业快速成长的有效途径，是企业发展的一大战略性选择。并购除了正确的战略作指导、优秀的企业文化作保证外，还必须有健康运行的企业结构。本文对企业结构进行了界定，提出了企业结构模型，并围绕该模型论述了并购企业结构整合管理。