并购后对被并购企业的组织地位进行调整是并购后组织结构设置中的一项重要决策。在中国情境下,并购后保留被并购企业的法人资格会比取消其法人资格更有利于主并企业的并购绩效。同时,区域因素、并购前绩效以及相对规模对并购后的组织结构和并购绩效之间的关系具有显著的调节作用,即:当跨区域并购时,并购后保留被并购企业的法人地位对主并企业的并购绩效的积极作用会越大;被并购企业并购前绩效越高,则并购后取消其法人地位对主并企业的并购绩效的积极作用会越大;被并购企业的相对规模越大,则并购后保留其法人地位对主并企业的并购绩效的积极作用会越大。
After the merger of the merged enterprise organization position is an important decision of after the merger of organization structure.In China, it is better for the acquiring firm when keeping the acquired firm as a legal entity than canceling the legal status of the acquired firm. Moreover, region-related factor, pre-acquisition performance and relative size of the acquired firm have significantly moderating effect on the relationship between organizational structure and acquisition performance,that is when the cress-regional merger, acquisition retention after enterprise merger legal status of master and enterprise M & a performance positive effect will be bigger; the higher merged enterprise performance is , then the bigger M & A after removal of its legal status to master and enterprise M & a performance positive effect will be ; the larger enterprise merger relative scale is , then after the bigger the merger of retain their legal status of master and enterprise M & a performance positive effect will be.