企业间知识溢出与企业兼并关系研究

研究了知识外溢效应、企业规模差异和企业兼并之间的关系。结果表明,无论兼并是出自财务协同效应还是战略协同效应,都和知识外溢密切相关。企业规模差异越大,知识溢出越大。而企业间兼并的概率和知识溢出成反比。资产的互补性可以产生互补效应,而知识的外溢则会产生协同效应,无成本的协同效应越大,有成本的兼并就会对企业失去吸引力。

Analysis of the Relationship between Knowledge Spillover and Merger

The relationship among knowledge spillover effects,the difference of enterprises' scale and merger are analyzed in the paper.The result shows that the strong relationship with knowledge spillover despite of the financial effects or strategic effects.The more difference the scale is,the more significant the knowledge effects are.There are opposite effects between the probability of merger and knowledge spillover.The complement of the assets may create complement effect and the spillover of the knowledge may create coefficient effects.The more the costless coefficient effects are,the less attractiveness of the merger to the enterprise is.