When the asset-debt rate is low, "stock-holder wealth maximizing"financial objective is equal to the "firm market value maximizing".

当企业的资产负债率较低时，“股东财富最大化”与“企业市场价值最大化”是一致的；

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It eventually causes that takeover behavior of pursuing maximizing shareholders, wealth is twisted and inefficacious takeover frequently take place.

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。

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It eventually causes that takeover behavior of pursuing maximizing shareholders, wealth is twisted and inefficacious takeover frequently take place.

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。

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