A game analysis of the equilibrium price in enterprise merger

摘要：

In the process of enterprise merger,how to make transaction price much more rational has become a difficult problem theoretically and practically. This article applies the method of game theory to analyze the equilibrium price between the buyers and the sellers or just the buyers existing in enterprise merger market,and then puts forward the optimal bidding strategies in the merging process. Moreover,it also indicates that Bayesian balance lies in the competition between the buyers,while the best response of every game player is that its quotation should be half of its evaluation of the merged enterprise.

关键词： enterprise merger equilibrium price game theory Bayesian balance

作者: LIU Jin-yan WANG Shi-quan

作者单位: School of Business Administration,NanKai University,P. R. China,300071 School of Business Administra School of Business Administration,Northeastern University,P. R. China,110004

会议类型: 国际会议

会议名称: The First International Conference on Management Innovation(ICMI 2007)(管理创新会议)

会议地点: 上海

会议语种:英文

页码: 1074-1077

在线出版日期: 2007-06-04（万方平台首次上网日期，不代表论文的发表时间）