Ssr-based Model Of Horizontal Mergers And Acquisitions Research

The governments of various countries limit horizontal merger in the name of resulting in monopolizing to reduce social welfare, have issued relevant antimonopoly laws in succession. But from middle period of the 1990', some horizontal merger which was obviously contrary to the antimonopoly laws hadn't been opposed , had got support from government instead. In our country ,with the economic structure transformation and joining in WTO, studying of horizontal merger seems particularly important.This paper regards game theory as tools, through relaxing the market competition structure of SSR model, expanding the behavior pattern after merging of SSR model enterprise, considering the situation with insufficient production capacity after enterprises merging, have analyzed motive and effect of horizontal merger. First of all , I dissect various motive theory of merge; Secondly , introduce SSR model based on horizontal merger and expansion of it of scholars of various countries briefly; Moreover, research motives and effect of horizontal merger based on some new assumption, carry on the simple real example to the horizontal merger of the listed company of our country , and explain the conclusion of studying through the case of merger of Boeing and McDonnell Douglas Companies; finally ,Summarize on this text.Get the main conclusion as follows: When producing advantage enterprises in horizontal merger, if the figure of leaders enterprise don't equal to zero, the horizontal merger motive exists, and under certain condition, this kind of horizontal merger will increase the social total welfare , this is exactly the reason why horizontal merger gets support; When horizontal merger does not produce advantage enterprises , the condition that the motive exists is extremely harsh, and this kind of merger rises the product price and reduce the social total welfare; When the market is Couront market, If merging side's production capacity after merge can't reach optimum in theories satisfied, so long as its production capacity exceed the sum of optimum output of merger participate, merge motive exists, and horizontal merger will increase the social total welfare rises; When high-level enterprises merge low level enterprises, because merging side can't get profit or those don't participate in merger get more profit than merging side, motive...