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本文考虑到企业中的委托—代理关系和各产品间的差异性,通过求解一个产品产量竞争的两阶段博弈的子博弈精练Nash均衡,对外生企业兼并的获利性和企业兼并的外部效应进行了分析,同时对最优激励参数的特性进行了说明。本文力求在深化对企业兼并的理论认识的同时,也为企业兼并的实践提供一定的指导。
This paper takes into account the principal-agent relationship in the company and the differences among the products, pursuing the Nash equilibrium of subgames to solve the two-stage game of product output competition, and the externalities of external corporate mergers and the external effects of corporate mergers. Analyze and explain the characteristics of the optimal excitation parameters at the same time. This article seeks to deepen the theoretical understanding of corporate mergers and acquisitions while also providing some guidance for corporate mergers and acquisitions.