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本文首先分析并定义了垂直型企业集团，然后建立了一个关于企业集团的经济学模型。在此基础上，本文从产业结构角度建立了一个动态博弈模型，分析了垂直型企业集团的形成动因，模型的均衡结果指出市场交易的不确定性和高市场交易费用是导致垂直性企业集团形成的主要动因。最后，本文讨论了博弈模型及其结果的政策含义。
This paper first analyzes and defines vertical business groups, and then establishes an economic model of business groups. On this basis, the paper establishes a dynamic game model from the perspective of industrial structure and analyzes the formation motivation of vertical enterprise groups. The equilibrium results of the model indicate that the uncertainty of market transactions and the high transaction costs of the market lead to the formation of vertical enterprise groups The main motivation. Finally, the paper discusses the policy implications of the game model and its results.