政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/36579
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文笔数/总笔数 : 109952/140887 (78%)
造访人次 : 46375685      在线人数 : 1127
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜寻范围 查询小技巧：
  • 您可在西文检索词汇前后加上"双引号"，以获取较精准的检索结果
  • 若欲以作者姓名搜寻，建议至进阶搜寻限定作者字段，可获得较完整数据
    •  进阶搜寻


    请使用永久网址来引用或连结此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/36579


    题名: 國際購併研究之評論
    Essays in International Mergers and Acqusition Research
    作者: 葉麗娜
    Elena, N. Nossova
    贡献者: 傅冶天
    Fu, Yee-Tian (Ted Fu)
    葉麗娜
    Elena, N. Nossova
    关键词: 國際購併
    購併效益評估
    Merger
    Synergy
    Premium
    Real-option
    Pearson
    Simon & Schuster
    日期: 1998
    上传时间: 2009-09-18 18:54:07 (UTC+8)
    摘要: 成功的企業購併需仰賴正確的投資評估以及有效的購併過程管理,本文包含兩個部分,第一部分主要探討購併利益評估的問題,使用的方法為real-option approach簡化了購併效益之評估,且可獲得較正確的結果;第二部分為兩家國際出版業合併之個案研究,就此成功的例子而言,管理者可以獲得較有利且完善的合併經營方法。
    Successful mergers depend on proper valuation of this special type of investment and effective management of this process. First essay devoted to the problem of merger profitability valuation. Using real-option approach, a simple model is developed to expand accuracy in decision making process about merger possibility. This model considers uncertainty of situation and provides flexibility in company’s strategy. According to this approach profitability of merger may be calculated by using value of premium paid for acquiring company and value of synergy that expected from merge of two companies. Main problem of merger’s valuation in this approach is correct definition of synergy. In second essay, merger of two publishing companies Addison Wesley Longman and Simon & Schuster is analyzed. Positive experience in choosing candidates for merge, pre- and post-acquisition decision making process can serve as a good example of effective merger’s management.
    參考文獻: 1. Amram, Martha, Kulatilaka, Nalin, Disciplined Decisions Aligning Strategy with the Financial Markets, Harvard Business Review, Jan-Feb., 1999, pp.95-104
    2. Ansoff H. Igor, Dolgosrochnoe planirovanie v perspective, in Popov, G.K. (ed.), Sovremennye Tendenzyi v Upravlenii v Capitalisticheskih Stranakh., Moscow: Izdatelstvo Progress., pp. 51-72
    3. Barro, R.J, Futures Markets and the Fluctuations in Inflation Monetary Growth, and Assets Returns., Journal of Business, Apr. 1986, pp. S21-S38
    4. Bishop, Matthew, European or National? The Community’s New Merger Regulation, in Bishop, Matthew and Kay, John, European Mergers and Merger Policy, Oxford University Press, N.Y., 1993.
    5. Black F. and Scholes, M., The Pricing of Options and Corporate Liabilities., Journal of Political Economy, May-June, 1973, pp.637-654.
    6. Brealey, R.A., Myers S.C., Principles of Corporate Finance, third edition, McGraw-Hill International Edition, Finance Series, 1988.
    7. Chandler, Alfred Dupont, Strategy and Structure: Chapters in the History of the Industrial Enterprise., Cambridge, Mass.: M.I.T. Press, c1966, pp. 476-493.
    8. Clark, J.J., Gerlach, J.T., Olson, G., Restructuring Corporate America, The Dryden Press, 1996.
    9. Cooke, Terence. E., Mergers and Acquisitions.,Basil Blackwell, 1986.
    10. Cooke, Terence E., International Mergers and Acquisitions., Basil Blackwell, 1988
    11. Ebeling H.W. Jr., Doorley T.L., A Strategic Approach to Acquisitions., Journal of Business Strategy, Winter 1983, pp. 44-54.
    12. The Economist, Educating Pearson, May 23rd, 1998, p. 62.
    13. Fortune, The Year of Megamerger, Jan. 11, 1999, pp.32-55.
    14. Freier, Jerold, Successful Corporate Acquisitions., Englewood Cliffs, N.J.: Prentice Hall, Inc., 1990
    15. Goordon, Woods, The Acquisition Decision., National Association of Accountants, N.Y., and The Society of Management Accountants of Canada, Hamilton, Ontario, Canada, 1985.
    16. Green, Milford B., Mergers and Acquisitions – Geographical and Spatial Perspectives., Routledge, London, 1990.
    17. Huges, Alan, Mergers and Economic Performance in the UK: Survey of the Empirical Evidence 1950-1990, in Bishop, Matthew and Kay, John, Eropean Mergers and Merger Policy, Oxford University Press, N.Y., 1993.
    18. Hussey, D.E., Portfolio Analysis: Practical Experience with the Directional Policy Matrix, Long Range Planning, Aug. 1978, pp. 2-8.
    19. Kitching, John, Winning and Loosing with European Acquisitions, Harvard Business Review, Mar-Apr., 1974, pp.124-136.
    20. J.R. Laing, Viacom’s Back: Speculation about Simon & Schuster until Rekindles Wall Street Interest, Barron’s, Jan.12, 1998, p.14.
    21. Levich, Richard M. International Financial Markets: Prices and Policies., McGraw-Hill International Editions, 1998.
    22. Lindorff, Dave, When the Buyer’s stock Changes., Global Finance, Oct.1998, pp.9-10
    23. Luehrman, Timothy A., Investment Opportunities as Real Options: Getting Started on the Numbers, Harvard Business Review, Jul-Aug. 1997, pp.51-67.
    23. Luehrman Timothy A., Strategy as a Portfolio of Real Options., Harvard Business Review, Sep-Oct. 1998, pp. 89-99.
    24. Newton J.K., Acquisitions: a Directional Policy Matrix Approach”, Long Range Planing, Dec.1981, pp.51-57.
    25. Pits, Robert A., Show Charles C., Strategies for Competitive Success., John Wiley & Sons, Inc., 1986.
    26. Porter, Michael E., The competitive Advantage of Nations., Harvard Business Review, Mar-Apr., 1990, pp. 73-93.
    27. Post Alexandra M., Anatomy of a Merger, The Causes and Effects of Mergers and Acquisitions. Englewood Cliffs, N.J.: Prentice Hall, Inc., 1994
    28. Quinn, James B., Strategic Goals – Process and Politics. Sloan Management Review, Fall 1977, pp. 21-37.
    29. Quinn, James B., Strategies for Change: Logical Incrementalism, Homewood, IL: Irwin, 1980
    30. Robinson, S.J.Q., Hichens, R.E., Wade, D.P., The Directional Policy Matrix-Tool for Strategic Planing., Long Range Planning, June 1978, pp. 8-15.
    31. Sirower, Mark L., The Synergy Trap: How Companies lose the Acquisition Game. The Free Press, N.Y., 1997.
    32. Smith, Roy C., Walter, Ingo, Global Banking, Oxford University Press, N.Y., Oxford, 1997.
    33. Stern, Carl W., Stalk, George Jr., Prospectives on Strategy from the Boston Consulting Group., John Wiley & Sons, Inc., 1998.
    34. Viacom, Inc. (Condensed) – case of Harvard Business School, 9-398-086, Rev. March 20,1998.
    35. Weston, J. Fred, Chung, Kwuang S., Sui, Juan A., Takeovers, Restructing and Corporate Governance, 2nd edition, Upper Side River, N.J., Prentice-Hall, Inc., 1998.
    描述: 碩士
    國立政治大學
    國際經營與貿易研究所
    86351031
    87
    資料來源: http://thesis.lib.nccu.edu.tw/record/#B2002001526
    数据类型: thesis
    显示于类别:[國際經營與貿易學系 ] 學位論文

    文件中的档案:

    档案 大小格式浏览次数
    index.html0KbHTML2412检视/开启


    在政大典藏中所有的数据项都受到原著作权保护.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回馈