论企业并购的反垄断规制.doc

摘要 进入新世纪，我国企业并购数量和规模达到了新的水平，并购已成为企业寻求快速增长的重要方式。企业通过并购活动，一方面可以迅速扩大规模，获得生产和经营的规模经济效益，从而提高整个经济的运行效率；另一方面，企业并购，特别是大型企业间的并购，将直接改变市场竞争态势，可能产生和扩大市场垄断，导致市场的低效率和社会福利的净损失。因此，如何对企业并购进行反垄断规制，在发挥其合理配置社会资源的积极作用的同时，预防和控制其消极影响，成为市场经济国家反垄断法的核心内容。 针对当前我国对企业并购反垄断规制的研究多是从法律角度开展，而反垄断经济学方面的研究尚显不足的现状，本文从经济学理论的视角，较为系统和简要地探讨了企业并购对市场的影响，提出了应客观看待企业并购对市场消极影响的观点。文章以经济学分析为指导，选取在企业并购反垄断规制方面比较完善和具备典型意义的三个国家——美国、德国和日本，运用比较和归纳的方法，总结和分析了主要发达国家反垄断规制的发展过程，归纳特点，展望趋势，从中获得了重要的启示。在此基础上，通过回顾我国企业并购的发展历程，分析和把握我国企业并购的特点和经济发展现状，借鉴国外先进经验，结合我国必威体育精装版公布的《反垄断法》（征求意见稿）的主要内容，作者对我国企业并购的反垄断规制的指导思想、原则、实体标准和程序规范等提出了框架建议。 关键字：企业并购 垄断 规制  Abstract In the new century, the scale and the total number of mergers acquisitions achieve a higher level, and the mergers acquisitions have already become the important method for rapid enterprise development. Using the method, on the one hand, enterprises can expand their scales, gain the benefits of the economy of scale, and improve the efficiency of the whole economy; on the other hand, the mergers acquisitions, particularly those between the large enterprises, will change the competitive situation of the market, and may increase and worsen the monopoly, which, as a result, will lead to the low efficient market and social welfare decrease. In the market economy countries, how to prevent and control the negative effects of mergers acquisitions without undermining the positive effects has become the key part of anti-monopoly law.In China, the research on the anti-monopoly for mergers acquisitions has been carried out from the perspective of law, and few discuss the issue from the perspective of economy. The paper makes a brief but systemic study of the effects of the mergers acquisitions on the market, and brings up the new idea that we should appraise objectively the negative effect. With the economics analysis approach, the paper selects three countries----America, Germany and Japan because their anti-monopoly laws are relatively well made and have their respectively typical ch