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从深化国有企业改革的要求来看 ,需要通过上市公司并购来解决企业规模不经济、产业结构不合理和企业负债过重等问题 ,来促进资产存量在不同经济实体之间的优化组合 ,这是现阶段我国经济发展和企业改革对证券市场进一步发展提出的新课题。市场经济条件下的公司扩张表现为三类趋势 ,即横向一体化扩张、纵向一体化扩张和混合一体化扩张。与这三类公司扩张相对应 ,作为公司扩张主要形成的并购同样表现为三类 ,即上市公司横向并购、上市公司纵向并购和上市公司混合并购。江苏省的上市公司应按照这三类并购方向 ,结合实际选择并购的目标公司。
From the perspective of deepening the requirements of state-owned enterprise reform, it is necessary to solve the problems of diseconomies of scale, unreasonable industrial structure and over-indebtedness of enterprises through mergers and acquisitions of listed companies so as to promote the optimal combination of assets stock among different economic entities. At this stage, China's economic development and enterprise reform put forward a new task for the further development of the securities market. Under the condition of market economy, the expansion of the company shows three types of trends, namely the horizontal integration expansion, the vertical integration expansion and the mixed integration expansion. Corresponding to the expansion of these three types of companies, the mergers and acquisitions that are the main forms of company expansion also show three types: horizontal mergers and acquisitions of listed companies, vertical mergers of listed companies and mergers and acquisitions of listed companies. Listed companies in Jiangsu Province should follow these three types of mergers and acquisitions, combined with the actual choice of the target company mergers and acquisitions.