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Economic risks faced by manufacturing enterprises are gradually increasing and risk reduction whilst maintaining high financial performance has become key to their survival and development of enterprises. Enterprise performance affects not only enterprise development but also does the interests of investors and creditors. Therefore, a well‐performing model for financial performance prediction is particularly...
In Mergers and Acquisitions, forecasting the price of the candidate is a very important step, which decides whether an acquisition continues to advance. In this paper, multiple-kernel SVMR is applied to predict the price of candidates in mergers and acquisitions. In the model, we adopt a two-stage multiple-kernel learning algorithm by incorporating sequential minimal optimization and the gradient...
In order to predict the price of candidates in acquisition and evaluate its feasibility, this paper puts forward a model of price prediction of candidates based on support vector machine. The model is trained by the data of market deals which were made in the past. The result of simulation and test indicates that average error of prediction is percent 7.71. It also proves that SVM has better performance...
In this paper, we apply Self-Organized Mapping and Hopfield neural network to cluster characteristics of financial performance and predict the performance of post-acquisition. Financial characteristics of samples of targets are divided into three sorts very evidently by clustering of SOM. According to the financial variables of every sort, we build Hopfield network model to predict the sort of performance...
In order to predict price of candidates in acquisition, in this paper, we design a new model of price prediction of target based on radial basis function neural network. The model is trained by the financial data of acquisition market deals which were made in the past. The result of simulation and test indicates that average error of price prediction is percent 12. It is a suggestive reference of...
The purpose of the article is to provide an overview of brand management for brand strategy. Through making use of game theory, the article analyzes the methods of brand competition. The article will put forward the train of brand competition strategy. Although the competition of market is fierce, company can gain the advantage in the competition only if the company has a good strategic.
Forecasting cash flow objectively is very important in discounted cash flow analysis. In order to predict cash flow after mergers, this paper puts forward a model based on genetic-algorithm and BP neural network, designs the steps of algorithm, build the structure of BP neural network. By simulation of data, the result indicates the model has good performance of prediction. It can overcome the flaws...
In order to know how the motive of acquisition influences on its performance, multi-Dimensional analysis and regression analysis are used to analyze the sort of motives and relation between motives and long-term performance. Research indicates performance of acquirers in pre-acquisition and post-acquisition increases remarkably based on synergy motive, acquisitions based on agency motive do not create...
Appropriate methods are helpful to measure risk. The risk is objective in acquisitions. It resources from subjective risk, morality risk, information asymmetry risk, law risk, system risk, policy risk and market risk during the process of mergers and acquisitions decision-making. In the different stages of decision-making, the emphases of risks are different Index of measuring risks can be established...
Target selection is one of the most important steps of during the process of mergers and acquisitions. Hopfield neural network is very strong in pattern recognition which can simulate the criteria of acquirer and remind it. The network model overcomes the shortcomings of classic statistic and fuzzy models and embodies the requirements of acquirer. Demonstration shows that Hopfield network is an effective...
The result of value appraisal decides whether an enterprise acquires target or not. Discounted Cash Flow is a theoretical, widely applied method of value appraisal. However, it predicts cash flow by linear model, static appraisal and ignores integration cost. This paper tries to amend the flaws through combining games and Discounted Cash Flow method, considering integration cost. The amendment optimizes...
Gas and water accumulations in old mine workings, voids and fault zones are threats to safety in coal mining. There are a variety of measures that can be taken to extract fluids prior to, or during mining; therefore, the ability to locate geological structures and old abandoned working and voids which may not have been mapped accurately are the key to overall success. However, current techniques are...
In this paper, a knowledge based genetic algorithm (GA) for on-line path planning of multiple mobile robots in dynamic environments is proposed. The proposed GA uses a unique problem representation method to represent 2D robot environments with complex obstacle layouts and obstacles are allowed to be of arbitrary shapes. Correspondingly, an effective evaluation method is developed specially for the...
This paper proposes a knowledge based genetic algorithm (GA) for path planning of a mobile robot in unstructured environments. The algorithm uses a unique problem representation method to represent 2-dimensional robot environments with complex obstacle layouts of arbitrary obstacle shapes. An effective evaluation method is specially developed for the proposed genetic algorithm. The evaluation method...
Real-time collision-free path planning and tracking control of a nonholonomic mobile robot in a dynamic environment is investigated using a neural dynamics based approach. The real-time robot path is generated through a dynamic neural activity landscape of a topologically organized neural network that represents the changing environment. The dynamics of each neuron is characterized by an additive...
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