考虑效率和规模的企业并购匹配策略

施海柳,王应明,陈圣科

系统科学与数学 ›› 2015, Vol. 35 ›› Issue (6) : 695-706.

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系统科学与数学 ›› 2015, Vol. 35 ›› Issue (6) : 695-706. DOI: 10.12341/jssms12590
论文

考虑效率和规模的企业并购匹配策略

    施海柳1 ,王应明 2,陈圣科3
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STRATEGY OF MERGERS AND ACQUISITIONS FIT CONSIDERING EFFICIENCY AND SCALE

    SHI Hailiu1 , WANG Yingming2 , CHEN Shengqun3
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摘要

针对并购匹配问题, 运用DEA方法从效率和规模两方面进行研究. 由于个体偏好不同, 同一市场环境下不同企业选择也不同. 为此, 首先, 定 义一个体现企业个体偏好的个体偏好函数;接着, 利用该函数从并购匹配矩阵 中筛选出可行并购匹配, 再由可行并购匹配的交叉效率构成可行并购匹配交 叉效率矩阵, 在此基础上, 利用一个优化模型从可行并购匹配交叉效率矩阵 中选出合理的并购匹配;最后, 通过一个算例说明了该并购匹配策略的可行性和有效性.

Abstract

Mergers and Acquisitions (M\&A) fit is researched from efficiency and scale using DEA method. Different enterprises have different choices due to the different individual preferences in the same market. Therefore, firstly, a preference function is defined to reflect individual preferences. Secondly, feasible M\&A fits are screened by using the preference function out of M\&A fit matrix, and cross efficiency of feasible M\&A fits constitute a cross efficiency matrix of M\&A fits. On this basis, rational M\&A fits are selected from cross efficiency matrix of M\&A fit by using an optimization model; Finally, an illustrative example is given to explain the feasibility and validity of the strategy of M\&A fit.

关键词

并购匹配 / DEA方法 / 个体偏好 / 规模与效率.

Key words

Mergers and acquisitions (M{\& / }A) fit, DEA model, individual preference, efficiency and scale.

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施海柳 , 王应明 , 陈圣科. 考虑效率和规模的企业并购匹配策略. 系统科学与数学, 2015, 35(6): 695-706. https://doi.org/10.12341/jssms12590
SHI Hailiu , WANG Yingming , CHEN Shengqun. STRATEGY OF MERGERS AND ACQUISITIONS FIT CONSIDERING EFFICIENCY AND SCALE. Journal of Systems Science and Mathematical Sciences, 2015, 35(6): 695-706 https://doi.org/10.12341/jssms12590
中图分类号: 90B50   
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