DEA-based pre-merger planning tool / S. Lozano in Journal of the operational research society (JORS), Vol. 61 N° 10 (Octobre 2010)  

Public ISBD [article]  inJournal of the operational research society (JORS) > Vol. 61 N° 10 (Octobre 2010) . - pp. 1485–1497 Titre : DEA-based pre-merger planning tool Type de document : texte imprimé Auteurs : S. Lozano, Auteur ; G. Villa, Auteur Année de publication : 2011 Article en page(s) : pp. 1485–1497 Note générale : Recherche opérationnelle Langues : Anglais (eng) Mots-clés : Mergers and acquisitions Efficiency gains Pre-merger planning Data envelopment analysis Branch closures Index. décimale : 001.424 Résumé : Data envelopment analysis (DEA) can be used as a pre-merger planning tool to estimate expected cost and profit efficiency gains. Specifically, in this paper, two alternative DEA models are presented, one to minimize post-merger input cost and the other to maximize post-merger profit. The first model assumes that input prices are known, whereas the second assumes that output prices are known. As both models explicitly consider the possibility of closing existing units, they are especially apt for in-market horizontal mergers, in which considerable overlap may exist among the branches of the merging firms. Indicative efficiency ratios are proposed based on the results of the models. The proposed approach is, in addition, rather flexible, allowing the optional inclusion of a variety of features and constraints, such as incompatibility among units, employment guarantees, etc. DEWEY : 001.424 ISSN : 0361-5682 En ligne : http://www.palgrave-journals.com/jors/journal/v61/n10/abs/jors2009106a.html [article] DEA-based pre-merger planning tool [texte imprimé] / S. Lozano, Auteur ; G. Villa, Auteur . - 2011 . - pp. 1485–1497. Recherche opérationnelle Langues : Anglais (eng) in Journal of the operational research society (JORS) > Vol. 61 N° 10 (Octobre 2010) . - pp. 1485–1497 Mots-clés : Mergers and acquisitions Efficiency gains Pre-merger planning Data envelopment analysis Branch closures Index. décimale : 001.424 Résumé : Data envelopment analysis (DEA) can be used as a pre-merger planning tool to estimate expected cost and profit efficiency gains. Specifically, in this paper, two alternative DEA models are presented, one to minimize post-merger input cost and the other to maximize post-merger profit. The first model assumes that input prices are known, whereas the second assumes that output prices are known. As both models explicitly consider the possibility of closing existing units, they are especially apt for in-market horizontal mergers, in which considerable overlap may exist among the branches of the merging firms. Indicative efficiency ratios are proposed based on the results of the models. The proposed approach is, in addition, rather flexible, allowing the optional inclusion of a variety of features and constraints, such as incompatibility among units, employment guarantees, etc. DEWEY : 001.424 ISSN : 0361-5682 En ligne : http://www.palgrave-journals.com/jors/journal/v61/n10/abs/jors2009106a.html

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