投资银行介入并购合理性与创造价值理论探讨
杨春生
投资银行介入并购合理性相关理论的主要观点认为，投资银行介入并购充当中介的合理性是基于其经济性即节约费用的因素。本文通过对投资银行介入并购业务收入和业务发展情况进行归纳分析，通过对投资银行介入并购合理性相关理论的分析，得到现实启示为：投资银行介入并购的合理性，除了经济性即节约并购费用外，还有创造性即创造价值因素。本文提出投资银行介入并购创造价值理论，认为投资银行介入并购的合理性体现了经济性和创造性的特点，即节约费用和创造价值。探讨了创造价值理论的基础、创造价值理论内容、创造价值实现方式、创造价值机制、创造价值受益者及创造价值绩效评价等。重点阐述了投资银行介入并购创造价值的实现方式，总结为投资银行...; According to theories of economic rationality of investment bank undertaking M&A business, the main point is on the economical factor , i.e. investment bank as an agency in the M&A practice is economical of cost. The writer brings forward the innovative view that investment bank can create value in the M&A business other than being economical of cost , which is the value creation th...
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