并购市场是公司治理中外部治理的重要组成部分,在有效市场里,通过上市公司并购市场上相关的信息披露,使并购市场形成对上市公司管理层的约束与激励。本文通过对并购市场的经济学分析,结合我国并购市场的现状,为建立完善的并购市场,形成有效的外部治理环境,提供一些理论支持与建议。 M & A market is an important part of external governance in corporate governance. In the effective market, the M & A market is restrained and encouraged by the management of listed companies through information disclosure in the M & A market of listed companies. Based on the economic analysis of M & A market and the current situation of M & A market in our country, this paper provides some theoretical support and suggestions for establishing perfect M & A market and forming an effective external governance environment.