Property Rights, Auctions, and Mergers & Acquisitions: Design of Auction Mechanisms in Corporate Property Transactions

Author: Bu Yanhong
Publisher:
Publish Date: 2006-01-01
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 more active and its forms increasingly diverse. Whether it is a "big government" or a "small government," its presence is always visible 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 step by step. 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 optimal resource allocation through transaction mechanism design. Combining the current development status of China's property rights trading market, it provides countermeasures and suggestions for the mechanism design of property rights transactions, making it highly practical and theoretically exploratory.