Game Research Of Enterprise Merger And Acquisition Strategy Of The Third Party Payment

The third party payment enterprise M&a tightly around the enterprise development strategy, the development trend of future change close to the industry, the purpose of quick intervention of new business areas, expansion of scale, obtaining patents, technology and talent the third party payment enterprises through mergers and acquisitions and equity investment the way to integration with the upstream and downstream industry chain, to build a payment platform as the basis, the full opening of the ecosystem, relates to each subdivision industry integration of business growth will largely rely on electronic commerce and mobile terminal. Because the third party payment enterprise products serious homogenization. so pay corporate competition is not the competition between the product, but the market competition, enterprises pay can get enough market share in the industry through mergers and acquisitions, the user of the existence of high viscosity, open up new market costs higher marketing costs. once the marketing cost is greater than M&a cost, merger&acquisition is the possibility of. As an industry investors, the third party payment investment preference and financial investors of the enterprise in different styles. Through the payment of the characteristics of the industry, enterprises of the third party value chain and industry chain and the analysis of M&A environment, prospect of industry mergers and acquisitions trend, on the basis of this game perspective broadens the research enterprise merger payment based on the perspective of interaction, using game method to study the main M&A and M&a target and its equilibrium conditions, find the optimal strategy in mergers and acquisitions in the.This paper will target companies expect to receive equity merger investment ratio as a signal to convey the profitability of the target enterprise, signaling game. risk pooling equilibrium with adverse selection, and the separating equilibrium described in the separating equilibrium conditions, acquisition of stock investment ratio can be used as a signal to convey the profitability of the target enterprise, the transmission of information to the M&A the market, so as to avoid the adverse selection, as enterprise merger target selection strategy. The stable model of evolution through dynamic symmetry, discusses the third party payment at different stages of evolution in the company’s development conditions of the enterprise and industry, in the M&a lateral segments and vertical integration of upstream and downstream mergers make the merger and acquisition strategy choice, that is in the initial stage of the development of the industry to adopt a horizontal merger, to occupy a greater market share, ensure the convenient the overall user experience, along with the development of the industry gradually downstream industry layout, open up new payment environment, the innovation of business model and profit point, the completion of the logistics, capital flow and information flow between the closed. This paper discusses on the M&a cost asymmetric duopoly game situations, the third party payment whether enterprises should choose to preempt the timing of M&a strategy, in the horizontal merger, enterprises to preempt the mergers and acquisitions are often able to obtain exclusive strategic advantage and exclusive benefit, without incurring the opponents of vicious competition, enterprises shall carry out preemptive merger and acquisition, and the there is more uncertainty and competition "hitchhike" possibility in the vertical integration of M&A, so in the merger shall take a conservative attitude, more consideration of the heterogeneous and target resources among firms, to ensure that the preemptive strategy development of M&A is born within the enterprise needs.