并购绩效的影响因素探析与研究模型构建——基于综合的理论视角

摘要

企业并购后的绩效受到诸多因素的影响.从交易成本理论来看,信息不对称、不确定性和机会主义行为等因素会阻碍企业并购后成本降低的程度；从资源基础理论来看,并购双方资源的相似性和互补性以及资源的利用率等因素会影响企业并购后能够获取的规模经济和范围经济效应；从制度基础理论来看,包括管制制度、规范制度和认知制度等在内的外部制度因素会影响企业并购的合法性进而影响企业并购绩效.基于综合的理论视角构建的并购绩效影响因素的研究框架,能够为后续研究提供有益的参考.%Acquisition performance can be influenced by amount of factors either inside or outside of the firms, while rnthere is no consistent founding in the field of acquisition research. This paper tried to review concurrent literature from rndifferent perspectives, including transaction cost theory, resource based view, institutional theory and so on, find out all rnimportant arguments about the antecedents of acquisition performance, and then propose an integrated model for further rnresearch.