不完全信息下考虑效率和规模的多时点并购决策

Abstract

Abstract: For problem of incomplete information and multiperiod information existing in the process of mergers and acquisitions (M{\&}A), an approach of enterprises M{\&}A decision is proposed in consideration of efficiency and scale. Incomplete and multiperiod evaluation information of two sides involving in M{\&}A is aggregated using evidence reasoning (ER), and whether the scale of a merger enterprise is too large is determined using DEA method, which is used to select feasible M{\&}A scheme, then the best targets is determined according to the value of competitive cross-efficiency of M{\&}A scheme. Finally, an illustrative example is given to show the feasibility and validity of the proposed method.

Key words: incomplete information, mergers and acquisitions (M{\&}A) decision, data envelopment analysis, evidence reasoning (ER), efficiency and scale

CLC Number:

C931

SHI Hailiu, WANG Yingming, CHEN Shengqun. Multiperiod mergers and acquisitions (M{\&}A) decision in consideration of efficiency and scale under the incomplete information[J]. Operations Research Transactions, 2015, 19(1): 65-76.

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Multiperiod mergers and acquisitions (M{\&}A) decision in consideration of efficiency and scale under the incomplete information

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