Mergers And Acquisitions In The Interests Of The Game And Coordination

Acquisition is the shorten term of the mergers and acquisitions. It's generally believed that it has surged five times worldwide since the rising of acquiring in the chief economic Western countries in the late .90th century. Each surge has its way corresponding with the development of current economics and technology. There are plenty of theories on acquisition, such as the theory of management cooperation, of scale economy, of capital combination. Acquisition has had new characteristics , which urge innovative theory to explain, since its fifth worldwide surge in 1998.Since the reforming and opening, especially in the background of economic globalization and entering the WTO, the Mergers and Acquisitions in China develop quickly. And to promote the Mergers and Acquisitions is very important to us. Therefore, the topic of this dissertation is meaningful both in theory and in practice.In addition to the profile, the essay is divided into six chapters. The first chapter, the development and innovation of the mergers and acquisitions, generalizes the predecessors' research, and explains the necessity to renew the theory from the point of economic beneficial relationship. The second chapter analyses the game relationship between the buyer and the aim company, the buyer and his competitors in the mergers and acquisitions. The third chapter analyses the game relationship between the investors and his managers in the course of acquisition. The fourth chapter covers the beneficial relationship between the big shareholder and the smaller. The fifth chapter discusses the beneficial game of the creditors. The sixth chapter give the analyses on the government influence on the mergers and acquisitions.The thesis has the following innovative points:First, it exceeds the common analyses and description of Mergers and Acquisitions in western economics, research the problem from a new point, the interests relationship. Second, the usage of the game theory on the interests relationship is rich. Third, the thesis points out that government's abnormal interests deeply influence the mergers and acquisitions. Lastly, analyses on the game relationship between the investors and his managers in the course of acquisition, actually aim to resolve the problem of human resources.To research Mergers and Acquisitions is a hard job and my ability is limited, there must be some limitations of the essay. I should study deeper for some fields and gain more achievements.