| Summary: | 碩士 === 銘傳大學 === 經濟學系碩士班 === 93 === With the improvements of skills and the rapid changes of environments, how to keep an enterprise prosperous and competitive is a key issue on running a business. Merger and acquisition is the easiest and fastest way to achieve the goal. Most listed companies have used a particular method called stocks exchange to acquire certain businesses, and they are fond of it. In the past, there are few academic journals discussing this issue. So far, the most common and well-known research approach been applied is the so-called L-G Model. However, there are still problems remained in this model. Therefore, while dealing with the issue of merger and acquisition, to develop a brain new model is absolutely urgent and necessary.
For this reason, this thesis first adopts open financial information together with the portfolio theory to evaluate the instant losses and benefits in the merge. Next, to link the performance value and the stockholder equity, as it can be called as the achievement per dollar , based on the econometric method. Finally, calculate the adequate exchange ratio of common stocks. By this way, we can ensure that investors, stockholders and the whole society can make the best decision even under the fact of having an information asymmetric market.
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