Cognitive Framing Effects of Decision Makers on M&A Decisions：A Case Study of the Printed Circuit Board Industry

• Main Authors: Yun-Pien Lee, 李運鞭
• Other Authors: 吳學良
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/59558724977106304237

碩士 === 國立臺灣大學 === 國際企業管理組 === 101 === For most businesses, sustained profitability and stable growth are key objectives, so mergers and acquisitions are often pursued in order to seek development opportunities, leading to a rise in the number of M&A cases and playing an important role in business expansion. A successful merger depends on the assessment of decision-makers in the M&A process, so it is very important to explore their ways of thinking and logic when evaluating mergers, and to identify which model they should follow in order to increase the chance of success. This paper uses a case-study of a merger case in Taiwan’s printed circuit board industry, based on an interview approach, to explore the different ways of thinking in the different participatory roles, between decision makers and managers in Taiwan (M&A specialists) and professional financial and accounting staff (M&A novices). The study revealed that the logical thinking and decision-making thinking patterns in the merger case differed between the two roles. The M&A specialists adopted an effectual frame of mind and the M&A novices a causal frame of mind when involved in the merger process. To provide a reference for management when facing similar problems in the future, the study concluded that the decisions-maker’s thinking model is the relevant research proposition in merger cases, which, it is hoped, will provide the basis for future empirical research.