DEA に基づく事業法人の合併に関する効率性分析

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タイトル別名
  • An empirical analysis on the efficiency of the M&A
  • DEA ニ モトヅク ジギョウ ホウジン ノ ガッペイ ニ カンスル コウリツセイ ブンセキ

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説明

Using DEA (Data Envelopment Analysis), the effectiveness of M&A in the financial industry hasbeen actively examined, while the same kind of analysis on non-financial industry is scarce.In this research, we examine the effectiveness of M&A among listed non-financial companies since1990 based on DEA. Our empirical findings are following three things. First, the analysis focusingon the expense indicates the positive relationship between the efficiency in scale and theeffectiveness of M&A. Second, as regards the expense, it is indispensable for the effectiveM&A to curtail not only general expenses but also human resources. Third, the effectiveness ofM&A is visible in the industries such as pharmaceutical, trading, shipping, while it is not in theceramic industry.

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