企业并购整合的超边际分析

企业并购作为一种资源的再配置过程,通常是指市场机制作用下企业为了获得其他企业的控制权而进行的产权交易活动。然而,现实中的企业并购大约一半最后都没有成功,统计资料显示,并购失败的主要原因在于企业并购后没能进行有效的整合。我国企业目前并购的形式主要是横向并购,那么同这种横向并购方式相对应,就更应该重视整合中并购企业之间的专业化协作问题。

Analysis of exceeding marginal utility theory of enterprise merger and acquisition

As a course of resource disposition,the M&A is an action of property right in order to pursue both parties' maximum interests under the condition of market economy.However,nearly half enterprises M&A failed finally.Statistical data show that failure of carrying on resource reorganization effectively after the M&A can account for the fact why so many enterprises M&A failed finally.The primary form of enterprises M&A at present in China is mainly horizontal M&A.Correspond to horizontal M&A,the enterprises more emphasis resources reorganization based specialized-economy and coordination of production.