Research on Enterprises Vertical Merger Based on Transaction Cost Theory
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Under the condition of market economy, with the continuous improvement of the socialization of production, the scale of enterprises also needs to expand. Vertical merger is an important phenomenon in the course of economic development. This paper gives the concept of transaction cost and makes an economic analysis of vertical merger from the perspective of transaction cost theory. This paper holds that the factors of asset specificity, uncertainty, transactions times and incentive mechanisms can influence the transaction cost of the enterprise vertical merger.
Transaction cost theory, Vertical merger, Enterprises merger.