【摘要】：由于土地、資金、政策、經(jīng)營風(fēng)險等因素,房地產(chǎn)企業(yè)的可持續(xù)發(fā)展受到限制,多元化戰(zhàn)略能夠幫助房地產(chǎn)企業(yè)脫離困境。但要成功實施多元化,就需要正確選擇合適的多元化進(jìn)入模式,其中并購能最快速地實現(xiàn)多元化。從公司控制權(quán)市場理論角度,要約收購是掌握控制權(quán)、實現(xiàn)有效公司治理的最佳并購方式(Manne,1965)。程興華(2005)的研究表明協(xié)議收購更加有效率,而要約收購更加公平,二者各有優(yōu)劣。
[Abstract]:Due to the factors of land, capital, policy, management risk and so on, the sustainable development of real estate enterprises is restricted. The diversification strategy can help the real estate enterprises get out of the predicament. However, in order to successfully implement diversification, it is necessary to select the right mode of diversification, in which M & A can achieve diversification as quickly as possible. From the point of view of the market theory of corporate control, tender offer is the best way to grasp the control right and realize effective corporate governance (Manneh 1965). Cheng Xinghua's (2005) study shows that a deal is more efficient and an offer fairer, each having its merits and demerits.
【作者單位】： 中央財經(jīng)大學(xué)博士后流動站;廣東財經(jīng)大學(xué)會計學(xué)院;澳門城市大學(xué);
【基金】：廣東省社科規(guī)劃辦課題(GD15XGL09) 廣東省教育廳課題(2014GXJK089)的階段性成果
【分類號】：F299.233.4;F271
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本文編號：2160348