Research On The Merger Of The External Economic Networks Of Enterprises

The economic network as a kind of economic phenomenon has become a research focus of scholars. M&A is a major economic behavior of reconfiguration of economic resources. With the occurrence of M&A behavior, except for the merger of the two enterprises, the external economic networks of the two enterprises have also undergone a merger. In the past, the only isolated study of changes of single resource of two enterprises cannot clearly describe the influence to the external economic networks, and this is the focus of the paper.Firstly, from the resource-based view, introduce the cross-organizational resources and put forward the classification framework of enterprise resources based on the network perspective, namely the enterprise resources include resources within the organizations and cross-organizational resources, which provides a theoretical basis for deductive reasoning in this paper. And the quantitative analysis method on social networks research is also applied.Secondly, carry on the descriptive analysis based on the enterprise single economic network as the research object. The external economic network nodes of the enterprises include the customers, suppliers, financial institutions, research institutions and government departments. The connection of the external economic network is the cross-organizational resource. The external economic network is also divided into five parts:supplier relationship network, customer relationship network, financial institution relation network, research institution and government department relationship network. In addition, the relationship measurement method of the external economic network is given.Thirdly, external economic network merging pattern is researched, including horizontal mergers, vertical mergers and mixed mergers. And the different characteristics of the merger are also analyzed as the assumption of the empirical part.Finally, taking2010M&A issues of listing corporation as research object, using paired samples t test, make an empirical analysis on changes of external economic network in the M&A. The conclusion is that:the relationship between the buyer and the suppliers (or customers) is more centralized in the horizontal mergers; more decentralized in the vertical mergers; and no significant changes in the mixed mergers. The paper combines the economic network theory and the M&A of enterprises, extends the static study of external economic network to the dynamic research from the perspective of enterprise M&A theory.