Property Rights. Auctions and Mergers - Design of Auction Mechanisms in Corporate Property Rights Transactions

Author: Bu Yanhong
Publisher:
Publish Date: 2006-09-01
Features: The driving force of scientific research comes from both theory and practice. The continuity of practical development necessarily requires the historical logic of applied theoretical research. The realization form of corporate mergers and acquisitions is the transfer of property rights between different owners, and the enhanced liquidity of property rights makes this economic behavior increasingly active and its forms more diverse. Whether it is a "big government" or a "small government," its presence can always be seen in the market; whether it plays the role of an "athlete" or a "referee," the government plays an important role at every stage of market development. When the optimal state cannot be achieved, the suboptimal state can be used as a substitute. While continuously optimizing the suboptimal state, we are gradually approaching the optimal state. This book takes the property rights transactions of enterprises that aim to achieve corporate mergers and reorganization strategic goals as the research object, analyzing how to achieve the optimal allocation of resources through transaction mechanism design. It also combines the current development status of China's property rights trading market to provide countermeasures and suggestions for the mechanism design of property rights transactions, making it highly practical and theoretically exploratory.