
考虑效率和规模的企业并购匹配策略
STRATEGY OF MERGERS AND ACQUISITIONS FIT CONSIDERING EFFICIENCY AND SCALE
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.
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.
并购匹配 / DEA方法 / 个体偏好 / 规模与效率. {{custom_keyword}} /
Mergers and acquisitions (M{\& / }A) fit, DEA model, individual preference, efficiency and scale. {{custom_keyword}} /
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