摘要:企業并購動機是企業采取并購方式和選擇并購對象的決定性因素。西方學者運用經濟學的理論和方法,對并購動機進行了經濟學分析,建立了一個比較完整的理論體系。但是由于文化背景和產權制度的差異等,這些理論并不能對中國企業的并購動機予以合理的解釋。因此,本文運用管理學理論與方法,從需求層次理論出發,即安全的需要、規范的需要、政治的需要、逐利的需要、避險的需要和成就的需要,對中國企業的并購動機進行了管理學分析,并在此基礎上進一步揭示與解釋了隱藏在中國上市公司并購行為背后的真正動機。

關鍵詞：理論  需求層次  并購動機

Abstract:Merge and Acquisition Motives of Listed companies are the determinate factors of listed companies deciding Merge and Acquisition mode and Merge and Acquisition object . Western scholars analyze Merge and Acquisition Motives by economics theory and methods , and develop an integrated academic system. But due to the difference of culture background and property right system , these theories can not give the reasonable explanation to Merge and Acquisition Motives of listed companies in China. So the study develops a demand theory ,based on secure demand , normative demand , political demand , benefit demand , risk - preventing demand and achievement demand ,and analyzes Merge and Acquisition Motives of listed companies through management theory and methods , to reveal the genuine motives.

Key Words: Theory  Demand arrangement  M&A Motives