Research On Our Country Coal Enterprise Vertical Combination Based On Transaction Cost

At present, economists are mainly from the modern industrial organization theory and new institutional economics perspective to study the relationship between enterprise vertical. In the study of the vertical relations, vertical integration is the development model that is more concerned by economists. In the real economy, the development of vertical combination model showed its advantages, a more extensive research space. This article analysis research on our country coal industrial vertical combination based on transaction cost.This article analysis the push factors of our country coal industrial vertical combination based on the study and summary of industrual vertical combination. he most important factor is the "three elements"of the transaction costs theory, including asset specificity,transaction uncertainty,transaction frequency. But face the reality and dynamic of the economic socity, economic scholars proposed many questions ,when made use of the study on of transaction cost theory of vertical relations, there will be defects, for example one-sided, static and homogeneous. For the defects of transaction cost theory, combined with the characteristics of the coal enterprise resources, lead into " the fourth elements "—extension factor, including environmental factors, market factors, resource factors, that is not only to better analysis the push factors of the coal enterprise select vertical combination , but also for the theory of transaction costs to promote and expand. In this article, the factors what impact transaction costs of the coal enterprise vertical combination may be summed up as beforehand transaction costs, after transaction costs, and to explore the vertical combination of the coal enterprises benefits,eg: eliminate double side transaction offect, acquire offect of scale, Increase the greater the adaptability of unknown events, effective solution to the transaction conflict.In the analysis of of the model of coal enterprise vertical combination, study on the vertical relationship between the three governance model ,including the market structure governance model, intermediate structure governance model, enterprises structure governance model and the transaction on the basis of matching, Through differences in contract law, differences in incentive intensity,administrative control of the differences in a comparative analysis of three aspects of the three governance models.Come to intermediate structure governance model than the market structure governance model, enterprises structure governance model can save transaction costs and reduce the incentive effects of the reduction in vertical combination model to draw more suitable for long-term development of the coal enterprise.In the combination mechanism analysis of coal enterprise vertical combination, this article think the communication and coordination mechanism, the distribution mechanism of profits, competitive and negotiation mechanism that is to ensure the coal enterprise vertical combination to running stabilize, the important guarantee for the reduce transaction cost,and the institution guarantee of smooth and efficient operation.On the basis of the above-mentioned study, this article establish the model of coal enterprise vertical combination, adopt Analytic Hierarchy Process(AHP) to quantitative analysis,calculation result and proved feasibility to carry out the coal enterprise vertical combination.