旨在分析这些理论，并在此基础上说明如何提高并购效率。
This paper discusses these theories and explains how to enhance the level of efficiency of M & A.
它们的联合有可能激励更多的公司实施并购和接管，从而将提高整个产业的生产效率。
Their union is likely to inspire more mergers and takeovers that will increase the industry's efficiency.
但早期大多数的多元化并购已被实践证明是失败的、不合理的，它不仅没有带来预期的收益提高，反而降低了企业的运行效率。
Most of the conglomerate merger in early stage are proved to be defeated and unreasonable, which didn't improve the expected profit but reducing the operation efficiency of the company.
同样，缺乏效率的防守似乎并没有解释任何欧洲并购政策的弱点。
Similarly, the lack of an efficiency defense does not seem to explain any of the weaknesses of European merger policy.
接着，分别建立起并购上、下游企业的最优战略模型，并且给出了提高能量效率的充分条件；
Secondly, it sets up the models which discuss optimal strategy for merging an upstream firm and a downstream firm, respectively, and gives the sufficient conditions for increasing energy efficiency.
并购机制的运行效率包括微观效率和宏观效率两方面。
The working efficiency of merger and acquisition includes micro-efficiency and macro-efficiency.
要约收购有利于改善并购交易的公平性，但现行的强制要约收购制度影响了并购交易效率。
On the contrary, acquisition by tender offer helps to improve the equity of acquisition trade, but the current compulsive tender offer system affects the efficiency of acquisition trade negatively.
通过并购既可以实现资源的优化配置，又可以实现资本的低成本、高效率扩张，形成强大的规模效应。
The combination not only completes optimization allocation of resources, but also reducing production cost, increasing efficiency, then forms a large sale effect.
因为降低成本，提高效率和效益始终是并购的重要内在动因。
To reduce the cost and to raise the efficiency and benefit are always the important inherent reasons of the M&A.
结果导致追求股东收益最大化的并购行为被扭曲，低效率的并购频繁发生。
It eventually causes that takeover behavior of pursuing maximizing shareholders, wealth is twisted and inefficacious takeover frequently take place.
本文旨在从公平与效率的角度对我国现行的上市公司并购交易制度作一比较和探讨。
This paper aims at comparing and discussing Chinese current acquisition systems of public company from the perspective of equity and efficiency.
一些并购的失败也体现了并购过程中的非效率问题。
These failures reflect non-efficiency issues in the process of M&A.
研究方法上，本文以企业理论、经济学、管理学及财务学等跨学科理论为本文的理论基础，对并购重组各项效率进行考察。
When it respect to research method, the writer put the business theory, economics, management and other interdisciplinary theory as the theoretical basis for this article.
研究方法上，本文以企业理论、经济学、管理学及财务学等跨学科理论为本文的理论基础，对并购重组各项效率进行考察。
When it respect to research method, the writer put the business theory, economics, management and other interdisciplinary theory as the theoretical basis for this article.
应用推荐