企业并购的多目标风险决策分析

Multi-objective Risk Decision-making Analysis on Corporate Merger and Acquisition

企业并购作为企业谋求外部成长的重要战略,已受到企业界和学界越来越多的关注。国内外有学者对已发生的并购案进行研究发现:有大约三成以上的并购案是失败的,即没有给公司带来利润。并购失败的原因是多样的。本文试图从管理决策角度出发,把管理科学中的风险决策方法应用于并购决策,建立一个并购的多目标风险决策模型,来提高并购的决策水平。

M&A is an important strategy for corporate to grow rapidly. More and more corporate and researchers pay attentions to M&A. There are many researches indicating that more than three tenth M&A cases are unsuccessful. There are many kinds of reasons for unsuccessful M&A. This paper applies a risk decision-making model to M&A. A multi-objective risk decision-making model is established to resolve the problem of M&A decision-making.