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| Tekijä: | Lin, Yifu |
| Otsikko: | The majority of annexation and acquisition of enterprises lacking economic reasonableness (original in Chinese) |
| Lehti: | China Reform (c)
1998 : 11, p.32-33 |
| Asiasana: | MERGERS PUBLIC CORPORATIONS CHINA |
| Kieli: | chn |
| Tiivistelmä: | The ongoing annexation and acquisition of enterprises lack economic reasonableness, because there generally exist no common indivisible factors which can be further made use of. Such kind of annexation will not bring about scale-economy and reduction in costs, but will result in the loss of social welfare on the contrary. Furthermore, the efficiency of enterprises and the operational effectiveness of the economy as a whole will become lower in the long run because of the strengthening of monopolistic forces. Of course, annexation and acquisition of enterprises, which can bring about scale-economy and reduction in costs, should be encouraged. However, it shouldn't be intervened by administration. It should be tested by market. |
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