縱式合併 的英文怎麼說
中文拼音 [zōngshìgěbìng]
縱式合併
英文
vertical comb ination-
Enterprise merger can be divided into three parts : landscape orientation merger, portrait merger ( it is also called uprightness merger ) and mixture merger
企業合併可分為橫向合併、縱向合併（垂直合併） 、混合合併三種合併方式。Second, the ways of m & a are categorized briefly. the author analyzed the industrial modes of publishing industry m & a in detail through modern economics theories, including horizontal m & a. vertical m & a, and combined m & a, for any strategic m & a involves the choice of industry orientation
其次，本文對出版企業並購方式作了簡要分類，利用現代經濟學理論詳細分析了出版企業產業模式的並購，即橫向並購、縱向並購、混合併購，因武漢理_卜大「沂碩卜戶聲價、侖義為任何戰略性並購都沙及jlj ， 『叭比力} l弓選擇的卜On the other side, through the multi - aspects of research and the experience both from china and abroad on m & a, the article also clarifies its view on the efficiency theory, agency theory, transaction charges theory, value understatement theory, marketing influence theory and wealth reallocation theory. it also gives an explanation on the primitive motive on m & a, i. e. pursuing maximum profit and minimum competitive pressure, which, at the same time, generates the relevant effects : finance synergy, management synergy, market share effect, enterprise development effect, and strategy transit effect. the detail planning of a m & a strategy according to the relevant m & a motive is of critical importance to the success of a m & a operation
企業並購從橫向並購、縱向並購、發展到混合併購，反映了企業並購的發展過程；從多種角度對企業並購加以研究，並結合國內外企業並購的實際，闡述了企業並購的效率理論、代理理論、交易費用理論、價值低估理論、市場勢力理論、財富再分配理論；分析了企業並購的原始動因? ?追求高額利潤與減少競爭壓力，並由此產生的效應? ?財務協同效應、管理協同效應、市場份額效應、企業發展效應、戰略轉移效應；根據企業並購的動機，謹慎規劃企業並購戰略，對企業並購成功至關重要，可以採用中心多角化戰略、復合多角化戰略、垂直式整合戰略、水平式整合戰略來規劃企業並購；採用一個合適的方法對目標企業進行價值評估是企業並購中一個重要環節，正確評估目標企業的價值，使交易價格相對公正合理，並能提高交易成功率，避免決策失誤；確定企業並購價值后，採用一個合理的支付方式，就完成了企業並購的最後工作。At the basis of this interpret, the text makes a thorough study of economic efficiency of three types of mergence. ( such as horizontal merger, vertical merger and conglomerate merger ). in macro level, the rationality of m & a and its products lies in scale economics and also lies in reducing relevant costs & diversifying operation risk, etc. it sets forth good results of mergence to mechanism adjustment of production construction in detail
然後，從企業績效角度的不同層面具體分析企業並購之動因，對橫向並購、縱向並購和混合併購等三種形式的經濟效率進行深入的比較研究，認為橫向並購可獲得規模經濟，在有限理性的環境下縱向並購可以降低交易費用，而混合併購可達到組合效應和降低經營風險的目的。For example, according to related industry, it can be classified as vertical merger, horizontal merger and mixed merger, according to payment type, it can be classified as merger of purchasing asset with money, merger of purchasing stock with money, merger of barter stock for asset, merger of barter stock for stock
按並購雙方產品與產業的聯系劃分，企業並購可分為橫向並購、縱向並購和混合併購。按並購出資方式的不同可劃分為出資購買資產式並購、出資購買股票式並購、以股票換取資產式並購、以股票換取股票式並購。Generally speaking, they can be divided into horizontal, vertical and synthesized horizontal merger and acquisition
通常，企業並購的模式分為橫向並購、縱向並購和綜合併購。The empirical study proves that horizontal merger and acquisition gains the highest the long - run abnormal returns, while the conglomerate m & a gains the least
研究表明橫向並購方式后的企業長期超額收益最好，縱向並購方式次之，混合併購方式的長期超額收益最差。Besides, among the three m & a patterns, the vertical is most significant, that of the mixed m & a presents positive but not significant, and the parallel m & a pattern has a negative relationship with the effect of m & a, and the longer the interval of the sample gets, the more significant the relationship becomes. as a result, we need longer - period samples to verify its effect
但我國並購行為並未能給企業的中長期經營情況帶來改善;在三種並購方式中，縱向並購的績效明顯優于另外兩種;混合併購的績效呈現拋物線式的變化;而橫向並購的績效隨時間而增長的趨勢顯著，需要時間進一步檢驗。分享友人