请教GWD-29-q11-13中的3个概念

echo_cheng

1.acquisitions

2.acquiring firms

3.acquired firms

这个没有弄明白看不懂文章，请NN指点

附文章如下

Findings from several studies on

            corporate mergers and acquisitions

            during the 1970’s and 1980’s raise

Line     questions about why firms initiate and

  (5)      consummate such transactions.  One

study showed, for example, that acquir-

ing firms were on average unable to

maintain acquired firms’ pre-merger

levels of profitability.  A second study

 (10)     concluded that post-acquisition gains

to most acquiring firms were not ade-

quate to cover the premiums paid

to obtain acquired firms.  A third

demonstrated that, following the

 (15)     announcement of a prospective

merger, the stock of the prospective

acquiring firm tends to increase in

value much less than does that of

the firm for which it bids.  Yet merg-

 (20)     ers and acquisitions remain common,

            and bidders continue to assert that

            their objectives are economic ones.

Acquisitions may well have the desir-

able effect of channeling a nation’s

 (25)     resources efficiently from less to

more efficient sectors of its economy,

but the individual acquisitions execu-

tives arranging these deals must see

them as advancing either their own or

 (30)     their companies’ private economic

interests.  It seems that factors hav-

ing little to do with corporate economic

            interests explain acquisitions.  These

factors may include the incentive

 (35)
                   compensation of executives, lack

of monitoring by boards of directors,

and managerial error in estimating the

value of firms targeted for acquisition.

           Alternatively, the acquisition acts of

 (40)    bidders may derive from modeling:

a manager does what other man-

agers do.

echo_cheng

自己顶一个先

echo_cheng

这个文章我真的没看懂，不知道哪里出问题了，马上就考了，急啊

cannahere

我读这篇也是读的头大
后来上网查了一下意思：
acquiring firm 兼并公司
acquired firm  被兼并公司
acquisition 估计应该就是兼并的意思了吧