在此背景下，诚信问题成为困扰微观济运行效率和社会公平与公正的重要因素。
Under this background, the credibility issue becomes the important factor that perplexes the efficiency of microcosmic operation and the justice of the society.
人们经过痛苦地反思后发现，上市公司控制权层面的无效率配置摧毁了整个市场赖以有效率运行的微观基础。
After painful reflection, people discover that the inefficient allocation of the control right level of companies destroy the micro-foundation of the efficient function of the whole market.
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.
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