Enterprise Mergers and Acquisitions in the Light of the Value Chain Optimization

摘要

This paper is focused on the study of the application of the value chain theory in the enterprise merger and acquisition (M&A) from the temporal (the pre-event, mid-event and after-event) and spatial (the horizontal value chain, the vertical value chain and the internal value chain) dimensions. Then this paper constructs a theoretical frame of M&A in terms of the value chain optimization.