摘要
随着市场竞争的不断加剧,我国房地产业已经逐渐由卖方市场转入买方市场,企业利润大幅度下降,部分中小企业陆续退出房地产市场,房地产业正经历着一股重组整合的热潮,企业的破产、兼并与收购成为行业常态。当前,我国房地产市场存在企业数量较多而规模较小、缺乏主导型企业、市场集中度低、进入壁垒低等特点。横向并购可以促进资源互补企业之间的合并,有利于迅速扩大房地产企业的规模,同时降低单位建筑成本,提高现存企业的市场势力,阻止新开发商的过度进入。为了提高房地产并购效率,应该减少并购时的政府干预,加强并购过程中的风险管理,重视并购完成后的企业整合,通过并购重组实现行业的优胜劣汰和资源的优化配置。
With increasing market competition, China real estate industry has gradually shifted from seller＇s market to buyer＇s market with a massive profit decline and some small and medium -sized enterprises withdrawing from the real estate market. The real estate industry is experiencing a wave of reorganization and integration, and enterprise bankruptcy, merger and acquisition have become the norm. China current real estate market is featured by a large number of small enterprises, lack of leading enterprises, low market concentration and low entry barriers. Horizontal merger and acquisition helps to promote the merger of resource complementary enterprises, expand real estate enterprise scales quickly, reduce unit construction cost, raise the market forces of the existing enterprises, and prevent excessive entry of new developers. In order to improve the efficiency of real estate merger and acquisition, it is necessary in the process of merger and acquisition to reduce government interventions, strengthen risk management, attach great importance to enterprise integration, and realize the survival of the fittest enterprises and the optimal resource allocation through merger and acquisition.
出处
《山东财经大学学报》
2016年第1期39-47,共9页
Journal of Shandong University of Finance and Economics
基金
山东省高等学校人文社会科学研究项目"房地产企业社会责任的推进机制研究:路径选择与制度设计"(J15WB22)
教育部青年基金项目"我国城市化质量空间差异的成因和优化策略"(14YJCZH191)
关键词
房地产业
横向并购
市场集中度
real estate industry
horizontal merger and acquisition
market concentration
