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On The Analysis Of The Behavior And Orientation Of The Government In Enterprise Merger

Posted on:2002-08-24Degree:MasterType:Thesis
Country:ChinaCandidate:M ZhangFull Text:PDF
GTID:2156360032455704Subject:Political economy
Abstract/Summary:PDF Full Text Request
In china, enterprise merger that started in 1984 has a history of more than ten years. The Chinese government has always played an important role in merger. Involvement of government has become a prominent character of enterprise merger in China. We have to explain those problems that existing in present economy and render some corresponding proposes.This article makes a detailed explanation of the institutional backgrounds of the government's actions in merger and thinks that the government's actions in merger are determined by the institutional backgrounds. In the present institutional backgrounds, it's inevitable that the government interferes with the enterprise merger. In merger, the government substitutes plays a role in substituting the medium organization, coordinating the different departments, leading the industries by enacting the industrial policy, and protects the benefits of who related to the enterprise and so on. It lowers the transaction cost of enterprise merger and promotes the smoothly implementation of enterprise merger. But it doesn't mean it's always efficient that the government involve the enterprise merger. This article sets up two models of mergers in one district and across different districts and points out when the government's target is as unanimous as the enterprises', the substitute of the government for the merger market lowers the transaction cost of enterprise merger and optimizes the allocation of resources. When their goals conflict, the government has to tolerate the lowly efficient merger or promote the implementation of the lowly efficient merger or prevent the highly efficient merger in order to chase its own most benefits. We cannot lay our hope on the government giving up maximizing self-interests if we want to change the present conditions. We cannot do anything but influence the government's cost and benefits to change its choose by changing the institutional background. The article gains some principal enlightenment by analyzing the role of the government in the developed countries in merger. The article proposes that the government should bring up the merger market, lead and regulate the enterprise merger by integrate those enlightenment with the conditions in China. At last, the article proposes a series of propose on the role of the government in merger. ...
Keywords/Search Tags:enterprise merger, he government's action, Institutional background
PDF Full Text Request
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