基于物理冲量过程的政府干预并购动机研究  

Research on the Motivation of Government to Intervene Merger and Acquisition Based on the Physical Impulse Process

作　　者：黄施 冷建飞[1] 

机构地区：[1]河海大学商学院,江苏南京211100

出　　处：《武汉理工大学学报（信息与管理工程版）》2017年第1期69-73,共5页Journal of Wuhan University of Technology：Information & Management Engineering

基　　金：国家社科基金项目(15BJY053)

摘　　要：国有企业重组并购是实现国企改革的重要途径,由于国有企业所有权性质的特殊性,政府在国有企业并购中往往会施加一定的干预,故分析政府对国有企业并购干预的动机具有重要意义。从全局出发,运用物理冲量过程的研究方法,合理构建政府干预国企并购动机系统,模拟好、中、差3种不同类型的宏观环境因素,研究结果表明:良好的宏观环境,有助于政策变更下社会系统因素的稳定性;而在差的宏观环境下,政府出于政治晋升及创租动机,干预并购的意愿度将显著提升,对国有企业的整体效率产生负面影响。Merger and reorganization of state - owned enterprise is an important way to realize the reform of state - owned en-terprises ,but due to the particularity of the nature of ownership of the state - owned enterprises, the government in the reform of state - owned enterprises mergers and acquisitions tend to impose certain intervention. Therefore, analysis the motivation of the government to intervene merger and acquisition of state - owned enterprises has important significance. From the overall situation, this paper applying the methods of physical impulse process, reasonably constructs motivation system of government intervention to the acquisition of state - owned enterprises and simulates three categories（ good, general and bad） of government and environ-mental factors. The research results show that： under good macro environment i t help to the s ta b i lity of the system factors. In the poor macro environment, because of the pol itical promotion motivation and the motivation for the creation of rent, government will have a great degree of government intervention, which has negative influence on the efficient of state owned enterprises.

关 键 词：国企并购 政府干预 物理冲量过程 

分 类 号：F120.3[经济管理—世界经济]