This book constructs an innovative theoretical analysis framework for corporate consolidation through M&A under the condition of government competition during the transition period. Under the condition of transitional economy, the government is an important agent in economic development. Government behaviors, especially government competitions, are institutional variables that affect enterprise behaviors and corporate consolidation. Based on the perspective of local government competition, starting from the essential problems of China's enterprise M&A during the transition period, and taking “the existence of M&A waves-the occurrence mechanism of M&A under government competition-the process of corporate consolidation under government competition—the macro and micro effects of M&A” as the main line, this book reveals the mechanism and effects of enterprise M&A on the evolution of industrial economic structure and regional economic structure under the paradigm of government competition. At the same time, taking “the motivations for government competition-conducts of government competition-effects of government competition” as the hidden line, the path of government competition and its impact mechanism are investigated. Relevant analysis of government competition is embodied in the logical framework of M&A and corporate consolidation.
By:
Fengrong Wang
Translated by:
Changkun Sun
Imprint: Springer Verlag, Singapore
Country of Publication: Singapore
Edition: 1st ed. 2021
Dimensions:
Height: 210mm,
Width: 148mm,
Weight: 842g
ISBN: 9789811566745
ISBN 10: 9811566747
Pages: 511
Publication Date: 13 November 2020
Audience:
Professional and scholarly
,
Undergraduate
Format: Hardback
Publisher's Status: Active
1. Introduction.- 2. Government Competition, M&A and Corporate Consolidation:A General Analysis.- 3. M&A Waves in China: A Survey from the Government Behavior Perspective.- 4. The Mechanism of M&A under the Impact of Local Government Competition: Models and Empirical Studies.- 5. Corporate M&A and Corporate Consolidation under Government Competition: Regional Specialization and Industrial Agglomeration.- 6. Government Competition and Intra-industry M&A: Studies on Micro and Macro Performances.- 7. Government Competition and Conglomerate Merger: Performance Extension Studies from the Perspective of Life Cycle Theory.- 8. Conclusions, Suggestions and Prospects.
Fengrong Wang is Professor at The Center for Economic Research, Shandong University, and visiting professor at West Virginia University. His Main research areas include financial economics, the theory of corporate finance, and financial system and economic development, portfolio investment and capital management.