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企业并购是社会资源配置的重要方式,是企业发展壮大的重要途径。在中国的经济格局中,国有企业一直处于支柱地位,因此研究国有企业的并购具有典型的代表意义。本文从介绍并购的内涵及相关理论出发,研究了央企并购地方国企过程中并购方、目标公司控股股东、目标公司管理层等各利益主体的行为动机,希望对央企并购地方国企能有一定的参考价值。
Merger and acquisition of enterprises is an important way of social resources allocation and an important way for enterprises to grow and develop. In the economic structure of China, state-owned enterprises have always been in a pillar position. Therefore, it is of typical significance to study the M & A of state-owned enterprises. Based on the introduction of the connotation of M & A and related theories, this paper studies the motives of various interest parties such as the M & A side, the controlling shareholder of the target company and the management of the target company in the process of central SOEs mergers and acquisitions and hopes that there will be some reference to central SOEs in the M & A of local SOEs value.