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	客户、供应商网络与并购收益; Customer & Supplier Network and M&A Returns
	郎香香 ; 彭哲 ; 李常青
	2014-08-28
关键词	兼并收购 客户与供应商 收益分配 M&A customer and supplier gains distribution
英文摘要	在产业组织理论的基础上,从供应商和客户网络的视角研究了并购收益的分配和发生,结果发现,供应商网络的疏密程度会影响并购收益的分配,供应商网络密集处的企业分享到的并购收益份额较低,市场反应较差。在供应商网络中,近距离并购的增效显著高于远距离并购。但是,客户网络不会影响并购收益的分配和发生。; Merger and acquisition(M&A)is an important means to promote businesses growth and adjust industrial structure,therefore, to study how M&A affects return is of great significance.This paper employs the industrial organization theory to analyze the way M&A gains are distributed and generated from a customer-supplier network perspective.It is found that the density of supplier network can affect the distribution of M&A gains.Firms within a dense supplier network share a lower portion of M&A gains, thereby suffer a poor market reaction.Firms in close proximity with each other in the supplier network enjoy higher degree of M&A synergies than those separated by a long distance.However, customer network does not have an impact on whether M&A happens or how M&A returns are distributed.; 国家自然科学基金项目(71172050、71102058); 中央高校基本科研业务费项目(2011221012)
语种	zh_CN
内容类型	期刊论文
源URL	[http://dspace.xmu.edu.cn/handle/2288/121220]
专题	王亚南院－已发表论文
推荐引用方式 GB/T 7714	郎香香,彭哲,李常青. 客户、供应商网络与并购收益, Customer & Supplier Network and M&A Returns[J],2014.
APA	郎香香,彭哲,&李常青.(2014).客户、供应商网络与并购收益..
MLA	郎香香,et al."客户、供应商网络与并购收益".(2014).

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