Data Envelopment Analysis-Based Evaluation of the Performance of Merger & Acquisition of Listed Pharmaceutical Companies
- VernacularTitle:基于数据包络分析法的我国医药上市公司并购绩效度量
- Author:
Donghua LI
;
Ying BIAN
- Publication Type:Journal Article
- Keywords:
Listed pharmaceutical companies;
Merger and acquisition;
Data envelopment analysis;
Operation efficiency;
Performance
- From:
China Pharmacy
2007;0(34):-
- CountryChina
- Language:Chinese
-
Abstract:
OBJECTIVE:To evaluate the performance of merger and acquisition (M&A) of listed pharmaceutical companies over 3 years from 2000 to 2002. METHODS: Based on the financial data of the listed companies in 26 cases, a data envelopment analysis was performed to compare and evaluate the efficiency of the companies before and after M&A. RESULTS: The efficiency was reduced in the first 3 years after M&A, but increased started from the fourth year. CONCLUSIONS: M&A did not promote the efficiency of listed pharmaceutical companies.
