| Summary: | 碩士 === 中華大學 === 科技管理研究所 === 93 === Merger and Acquisition (M&A) is one of the strategic modes for enterprise diversification. But there are also many abortive cases in USA and Europe. Many key factors such as the lay out in advance, negotiation and keeping an engagement in process and the fulfillment effects of integration, there are lots of unpredictable variables in each section. Therefore, how to manage risk well and prevent disadvantages from M&A will be the most important issue.
The purpose of this study is to explore the key factors of M&A, inclusive of operation risk, overpayment risk, financial risk and legal risk. Firstly, we extract the constructs from the risk of M&A by Delphi Method. And then, we use Analytic Hierarchy Process (AHP) to calculate the relative weight of each construct in order to figure out the influence about risk management to M&A. Finally, we hope it will be a good reference for enterprises while merger and acquisition.
According to the research, we find out that the financial risk is more important than any other M&A activities. Moreover, the experts and scholars concur on the products, credit and goodwill obligation that will increase the operation risk. Besides, fiscal evaluate model is also the key factor that impact share holder’s profit. Therefore, it is necessary for us to collect correlative information, analyze previous financial reports and use properly value appraisement.
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