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企業併購評估 以聯發科收購雷凌為例
Thesis

企業併購評估 以聯發科收購雷凌為例

余玉田
Masters, 國立清華大學, 經營管理碩士在職專班
2014

Abstract

企業評價 類似公司比較法 自由現金折現法 聯發科技 雷凌科技 Corporate Valuation Comparables Free Cash Flow MTK Ralink
ABSTRACT Companies often choose to scale the acquisition strategy to pursue operational growth, innovation and adaptation to global competition value. Taiwan's IC design industry have followed this wave. However, mergers can bring really useful and effective it? Based on relevant research indicates that mergers often huge risk and potential impact of the sustainable growth of enterprises. Therefore, we must better understand the merger. Enterprise resource integration By merger. Thus gain a competitive advantage, market access, technical core competencies to expand market share, achieve rapid growth target. In this paper, Ralink, MediaTek acquisition case study of evaluation and analysis for enterprise. Take a similar company comparison method and discounted cash flow analysis to evaluate the free case. With relevant information, website information, financial reporting and analysis to analyze performance. Finally, the assessed value is compared with the actual transaction price, and then discuss the transaction price is reasonable. Process variables affect the outcome of the evaluation. So if the market value of the firm reflect the true value will be worthy of further study issues.

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