Web 2.0 Environmental Scanning and Adaptive Decision Support for Business Mergers and Acquisitions
Web 2.0 Environmental Scanning and Adaptive Decision Support for Business Mergers and Acquisitions
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DOI：
10.2307/41703506
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发表时间：
2012-12
期刊：
影响因子：
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通讯作者：
R.S.M. Lau;S. Liao;Kam-Fai Wong;Dickson K. W. Chiu
中科院分区：
文献类型：
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作者：
R.S.M. Lau;S. Liao;Kam-Fai Wong;Dickson K. W. Chiu
全球化引发了跨境并购的快速增长。然而，研究表明，只有17%的跨国并购创造了股东价值。这种糟糕记录的主要原因之一是，最高管理层缺乏对并购的非财务方面(例如，社会文化方面)的关注。随着Web 2.0应用程序的快速增长，在线环境扫描为高层管理人员提供了前所未有的机会，他们可以利用集体网络智能来更好地洞察跨国并购所面临的社会文化和政治-经济因素。基于波特的五种力量模型，我们研究的一个主要贡献是设计了一种新颖的尽职调查记分卡模型，该模型利用集体网络智能来增强并购决策。我们工作的另一个重要贡献是设计和开发了一个适应性商业智能(BI)2.0系统，该系统以进化学习方法、特定领域的情感分析和商业关系挖掘为基础，以实现上述用于适应性并购决策支持的记分卡模型。以中国企业跨国并购为背景，我们的实验结果证实了所提出的自适应BI 2.0系统能够在不同的并购场景下显著地帮助决策者。我们的发现的管理含义是，公司可以应用拟议的BI 2.0技术来增强其战略决策，特别是在目标市场进行跨境投资时，这些目标市场的私人信息可能无法随时获得。
Globalization has triggered a rapid increase in cross-border mergers and acquisitions (M&As). However, research shows that only 17 percent of cross-border M&As create shareholder value. One of the main reasons for this poor track record is top management's lack of attention to nonfinancial aspects (e.g., sociocultural aspects) of M&As. With the rapid growth of Web 2.0 applications, online environmental scanning provides top executives with unprecedented opportunities to tap into collective web intelligence to develop better insights about the sociocultural and political--economic factors that cross-border M&As face. Grounded in Porter's five forces model, one major contribution of our research is the design of a novel due diligence scorecard model that leverages collective web intelligence to enhance M&A decision making. Another important contribution of our work is the design and development of an adaptive business intelligence (BI) 2.0 system underpinned by an evolutionary learning approach, domain-specific sentiment analysis, and business relation mining to operationalize the aforementioned scorecard model for adaptive M&A decision support. With Chinese companies' cross-border M&As as the business context, our experimental results confirm that the proposed adaptive BI 2.0 system can significantly aid decision makers under different M&A scenarios. The managerial implication of our findings is that firms can apply the proposed BI 2.0 technology to enhance their strategic decision making, particularly when making cross-border investments in targeted markets for which private information may not be readily available.