论文部分内容阅读
并购是一种高风险的投资项目。文章认为被并购企业通过执行一个推迟期权,可以获取新的信息以降低风险、减小损失。因为未来的不确定性隐含着推迟期权,本文还通过运用完全但不完美信息动态博弈理论分析了被并购企业在并购交易中的策略选择。
M & A is a high-risk investment project. The article argues that the merged enterprise can obtain new information to reduce the risk and reduce the losses by executing a deferred option. Because future uncertainties imply deferred options, this paper also analyzes the strategic choices of M & A firms in M & A transactions by using completely but not perfect information dynamic game theory.