Abstract
Mergers and acquisitions (M&A) are important management tools of chief executive officers (CEOs.) The benefits of M&A include fast expanding production capacity, acquiring technical patents, overcoming the entry of obstacles, grasping markets, taking over talents, generating the synergy of operation and finance, adjusting product mix or reducing production capacity any time during the recession of markets.
Steel industry itself has the character of benefits in economical scale. Therefore, Mittal Steel Company led to hand over its successful experience unceasingly in the recent year, causing an international tide of M&A. In the recent emerging China¡¦s economic system, China¡¦s steel industry was integrated under the guide of national policy. Lots of small steel plants became international leading steel producers. This is contributed to the M&A rendering the company¡¦s scale large, increasing international visibility and bringing people¡¦s notice to its talks and behaviors.
Owing to quite high risks of M&A itself, steel industry must grasp the key success factor so as to reduce the risks of operation. Due to the difference of every industry, every company and outside environment, each of their positions in the industrial value chain is also different. Therefore, the successful factors of each company¡¦s M&A are somewhat different, too.
This study aims at hoping to probe the successful factors of steel industry¡¦s M&A by case study, as well as to understand the follows: the status of Taiwan¡¦s steel industry, the difficulty of M&A in Taiwan¡¦s industry, the successful factors of steel industry and the generated effect of steel industry¡¦s M&A.
The result of this study shows that the relationship between China and Taiwan has been closer and closer. Taiwan¡¦s steel producers have to grasp the trend of changes of China¡¦s steel plants so as to prevent error decision making. As for the successful factors of steel industry¡¦s M&A, the first priority of conditions is to obtain the top management support and to be executed by an experienced teamwork of M&A so that the M&A experience can be handed over by cumulative knowledge. Since the statistics shows that the percentage of M&A success is small, it has better to evaluate the worst situation prior to the job¡¦s execution as well as to set a bottom line of loss in order to flexibly dispose the changes of situation at any time and to make the M&A easier to success.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0702108-151645 |
| Date | 02 July 2008 |
| Creators | Hsiao, Po-Ju |
| Contributors | Ming-rea Kao, Pei-how Huang, Tsuang Kuo |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0702108-151645 |
| Rights | restricted, Copyright information available at source archive |
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