Analysis of Company Integration Cost 企业整合成本分析
cost integration 成本集成
integration and operation cost 整合与运营成本
cost management integration 成本管理集成
Cost Accounting Integration 成本核算集成
In the long run, it turns out to the reverse direction, smaller size M&A shows a better performance. Because big size means big integration cost and the management of acquirer firms has low capability, so the long-term outcome is reasonable.
这是由于我国的并购主体管理能力不强,当并购活动的规模较大时,其能够得到的规模经济优势有限,而由此产生的整合成本比较高,造成长期并购绩效下降。
参考来源 - 股权分置改革时期收购公司并购绩效研究·2,447,543篇论文数据，部分数据来源于NoteExpress
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