Coates iv1 the core goal of corporate law and governance is to improve outcomes for participants in businesses organized as corporations, and for society, relative to what could be achieved. The role of it in supporting mergers and acquisitions involving it teams early and often during mergers and acquisitions can help enterprises realize more value from the operational and market synergies that bring businesses together. Knowledge representation and knowledge acquisition. Companies in all industries have grown at lightning speed, in part because of an aggressive merger and acquisition strategy. Concurrently, it engages all employees from the bottom up in the sharing of stories, developing common ground and commitment to organizational excellence. Haspeslaghjemison 1991 most frequently identify three phases of a merger or an acquisition process figure 1. Acquired knowledge is organized so that it will be ready for use, in an activity called knowledge representation. The importance of mergers and acquisitions in todays economy rima tamosiuniene1, egle duksaite2 abstract.
Better ai solutions with knowledge representation in three. Proceedings of the 38th conference of electronics, telecommunications. The role of it in supporting mergers and acquisitions. Both trends require the computer to be able to use a large amount of knowledge. In some cases, the literature also reports that merger management has much in common with jv management norburn and schoenberg 1990. A merger is said to be conglomerate in nature if it involves the merger of the two firms that have no common business areas or have unrelated business activity. They are also useful exemplars because they are widely familiar to the. Here, the two companies entering the merger process do not possess any common business ties. Platos middle period metaphysics and epistemology it seems that syllogism starts with the greek schools. Maybe the failure of ai and nlp tools is due to the fact that they do not combine. The contribution of the merger guidelines to the analysis.
Representations and warranties are more commonly referred to as reps and warranties or, simply, reps. A framework for representing knowledge marvin minsky mitai laboratory memo 306, june, 1974. Mergers as a st rategy for success 2016 report from the metropolitan chicago nonprofit merger research project donald haider katherine cooper reyhaneh maktoufi. All of these, in different ways, involve hierarchical representation of data. Outline sec filing requirements and tax considerations 18. Its best if you avoid using common keywords when searching for a pdf merger v4. It can be argued that successful knowledge representation requires a multitude of.
Strategies and techniques for negotiating corporate acquisitions is a unique guide to handling a corporate acquisition negotiation successfully. Think of a cone supplier merging with an ice cream maker. Nonetheless, a large fraction of mergers fail to produce value for the shareholders of the acquiring firms. Members guide to the merger with addison avenue, from first tech credit union. Merger and acquisition activity mergers, acquisitions, joint ventures, divestitures is at an alltime high. Whereby in a merger, the two or more companies create a new entity and in an acquisition, the acquired company loses its economic and legal autonomy gerpott 1993. W178 chapter 18 knowledge acquisition, representation, and reasoning knowledge can be used in a knowledgebased system to solve new problems via machine inference and to explain the generated recommendation. There are different ways of defining a merger or an acquisition. Driven by a philosophy of shareholder value they not. Mergers and acquisitions are usually, but not always, part of an expansion strategy. The following list gives a brief introduction to the types of techniques used for acquiring, analyzing and modelling. Good communication is key to successful mergers and. Financial statement analysis in mergers and acquisitions howard e. Anyone who has researched merger success rates knows that roughly 70 percent of mergers fail.
Seven steps to merger excellence ivey business journal. A good representation enables fast and accurate access to. The communication role needs to begin during the preliminary stages to set the scene. Pdf existing knowledge systems incorporate knowledge retrieval techniques that represent. Knowledge representation and reasoning logics for arti cial intelligence stuart c.
Artificial intelligence methods ws 20052006 marc erich latoschik internal representation representation in general. Introduction the importance of economic analysis in the application of competition rules, especially in mergers, has increased over the last few years. In case of pure conglomerate merger both the companies have the unrelated business. The 1focus seven step model figure 4 moves the organization from the top of the clevel executive team and the project integration team down and outwards through the organization. Mergers and acquisitions are among the most effective ways to expedite the implementation of a plan to grow rapidly.
Expert systems are designed for knowledge representation based on rules of logic called inferences. Introduction to techniques used to represent symbolic knowledge associated methods of automated reasoning the three systems that we saw use symbolic knowledge representation and reasoning but, they also use nonsymbolic methods nonsymbolic methods are covered in other courses cs228, cs229. Having said this, we still do not know why the merger wave started in the first place. Introductory while framing a scheme of merger or amalgamation, a company has to fulfill the conditions prescribed under the company law as already discussed, but it has also to look after one very important aspect i. It is true that the analysis of nonhorizontal mergers in the guidelines has not been a. Summary of legal aspects of mergers, consolidations, and. Alternative valuation methods have also emerged because not all investments have sufficiently predictable cash flows to permit effective financial modeling. Effective communication is an imperative element of mergers and acquisitions. How to keep customers from jumping ship after a merger. Too often the communication starts too late and doesnt deal sufficiently with the postmerger integration issues. Jun, 2012 types of merger 5 conglomeration it refers to the merger of companies, which do not either sell any related products or cater to any related markets. Thus, the entire focus on timing is driven by the enterprises strategic needs and a market and. Knowledge graphs that represent structural relations between entities.
The seller has no knowledge of any breach or anticipated breach by the other parties to any contract to which the company is party. Most ai programs focus on a specific domain or sphere of interest. The object of a knowledge representation is to express knowledge in a computer tractable form, so that it can be used to enable our ai agents to perform well. Mergers and acquisitions motives jrisy motis 1 toulouse school of economics ehess gremaq and university of crete jrissy. Researchers in the field of artificial intelligence ai have been investigating how knowledge can be expressed in a computer system. Knowledge representation in artificial intelligence. Combining multiple knowledge representation technologies into. Mergers and acquisitions go through three broad phases.
There is a familiar pattern in knowledge representation research in which the description of a new knowledge representation technology is followed by claims that the new ideas are in fact formally equivalent to an existing technology. Marketextension mergertwo companies that sell the same products in different markets. These are termed as knowledge elicitation or knowledge acquisition ka techniques. A glance at any business newspaper or business news web page will indicate that mergers and acquisitions are big business and are taking place all the time.
Merger%and%acquisition the impact on organizationalculture. The contribution of the merger guidelines to the analysis of nonhorizontal mergers frederick r. Profitability analysis of mergers and acquisitions mergers and acquisitions around the globe represent a huge reallocation of resources, within and across countries and therefore, it has been the interest of empirical studies for many years. Vertical merger a customer and company or a supplier and company. In order for the transition to be smooth, a well thought out merger and acquisition communication plan is a vital component. Introduction to techniques used to represent symbolic knowledge associated methods of automated reasoning the three systems that we saw use symbolic knowledge representation and reasoning but, they also use nonsymbolic methods nonsymbolic methods are. Knowledge representation perhaps begins with plato. Syntax the syntax of a language defines which configurations of the components. Profitability analysis of mergers and acquisitions. As the primitive representational level at the foundation of knowledge representation languages, those technologies encounter all the issues central to knowledge representation of any variety. Undoubtedly today we live in a time of significant economic change. Knowledge representation and reasoning logics for arti cial.
Pdf evolution of knowledge representation and retrieval. Representation is in every ai solution, and with a good representation that captures knowledge about the business decision, the data and the analytics that. In the first place, laws on incorporations were evolving and were. Representation representation representation think about knowledge, rather than data in ai facts procedures meaning cannot have intelligence without knowledge always been very important in ai choosing the wrong representation could lead to a project failing still a lot of work done on. The knowledge base can also contain concepts, theories, practical procedures. Introduction corporate mergers are an important driver of corporate and economic growth. Knowledge representation techniques knowledge engineering course andrea bonarini.
Mergers and acquisitions edinburgh business school. Willig department of justice merger analysis, industrial organization theory, and merger guidelines the leadership of the antitrust division of the u. They can be horizontal deals, in which competitors are combined. Lists linked lists are used to represent hierarchical knowledge trees graphs which represent hierarchical knowledge. New downloads are added to the member section daily and we now have 360,231 downloads for our members, including. Knowledge representation techniques politecnico di milano. Knowledge models, current knowledge acquisition techniques. In artificial intelligence, knowledge representation is the study of how the beliefs, intentions, and value judgments of an intelligent agent can be expressed in a transparent, symbolic notation suitable for automated reasoning. The effect of mergers and acquisitions on the performance of companies the greek case of ionikilaiki bank and pisteos bank dimitrios maditinos1, kavala institute of technology nikolaos theriou2, kavala institute of technology efstathios demetriades3, kavala institute of technology abstract. Some of its advice is geared towards effectuating workable compromises that satisfy the interests of all parties. The importance of mergers and acquisitions in todays. The knowledge base contains facts about objects in the chosen domain and their relationships. Summary of legal aspects of mergers, consolidations, and transfers of assets the duty that is most pertinent to the approval of mergers and consolidations, however, is the duty of care.
Details of these activities are discussed in the following sections. Knowledge acquisition techniques to elicit knowledge from experts many techniques have been developed. Types, regulation, and patterns of practice john c. A mckinsey perspective on value creation and synergies almost 50 percent of the time, due diligence conducted before a merger fails to provide an adequate roadmap to capturing synergies and creating value. A knowledge representation language is defined by two aspects. As part of its due diligence investigation, a corporate. As with methods for computer intrusion detection, many knowledge acquisition methods are being motivated by the heightened attention to security tasks like counterterrorism. There are two types of conglomerate mergers like pure conglomerate merger and mixed conglomerate merger. Did you know that adobe acrobat is not the only solution to view and modify pdf portable document format files. In fact, maintaining open, transparent communication is a key aspect of successfully accommodating any type of organizational change, large or small. A tour towards the various knowledge representation techniques for.
I propose a categorization of such motives based on the residual. Johnson, mba, ca, cma, cbv, cpa, cfa campbell valuation partners limited overview financial statement analysis is fundamental to a corporate acquirers assessment of an acquisition or merger candidate. Historically the claim has often been phrased in terms of equivalence to logic. The importance of mergers and acquisitions in todays economy. Knowledge representation a subarea of arti cial intelligence concerned with understanding, designing, and implementing ways of representing information in computers so that programs agents can use this information to derive information that is implied by it, to converse with people in natural languages, to decide what to do next.
Knowledge representation and knowledge acquisition youtube. Introduction to techniques used to represent symbolic knowledge. Dec 10, 2014 knowledge representation akhtar hussain 2. Knowledge representation an overview sciencedirect topics. Merger analysis, industrial organization theory, and merger. Artificial intelligence methods knowledge representation. Mergers and acquisitions page 7 the first wave was also characterized by friendly deals and by cash financing. We will see some knowledge representation techniques belonging. The impact of technology and the internet has only further increased the pace and size of deals. Moreover, although the buying firm may be a considerably different organization after the merger, it retains. W178 chapter 18 knowledge acquisition, representation, and reasoning knowledge can be used in a knowledge based system to solve new problems via machine inference and to explain the generated recommendation. What are fundamental knowledge representation and reasoning methods for knowledge. We provide a series of affordable and free pdf tools for windows. Lisp, the main programming language of ai, was developed to process lists and trees.
The chapters that follow consider a variety of valuation methods. Knowledge representation is key to the success of expert systems. Predicate is a function may be true for some arguments, and false for others. Mar 04, 2018 knowledge representation and knowledge acquisition. Knowledge representation techniques govern validity and precision of knowledge retrieved. Knowledge affects the development, efficiency, speed, and maintenance of the system. This strategy is commonly seen within the medical technology industry, where most research has. Knowledge representation techniques pdf alzaytoonah. The complete guide to mergers and acquisitions is the ultimate handbook for planning and managing postmerger integration. Chapter knowledge 18 acquisition, representation, and. Advances in knowledge acquisition and representation 3 relying on purely quantitative measures or just the symbolic commands can be circumvented by experienced intruders. From a purely computational point of view, the major objectives to be achieved are.
Explain the effect of merger on earnings per share and market price per share. In a merger, the acquiring company assumes the assets and liabilities of the merged company. Mergers and acquisitions edinburgh business school ix preface an understanding of mergers and acquisitions as a discipline is increasingly important in modern business. There have been three merger waves in the 1960s with the multinational takeovers, in the. Good communication is essential to successful mergers and acquisitions. The use of economic tools in merger analysis the use of economic tools in merger analysis. Horizontal merger two companies that are in direct competition and share the same product lines and markets. The way in which humans use computers is rapidly moving towards the delegation of increasingly complex problemsolving tasks to computers. Merger analysis, industrial organization theory, and. The field of knowledge representation involves considering artificial intelligence and how it presents some sort of knowledge, usually regarding a closed system. The literature often uses the term merger interchangeably with the postacquisition integration process. The term which is used nowadays for the development of knowledge intensive computer systems is knowledge engineering. We will see some knowledge representation techniques belonging to the two. Packed full of how to guidance, tools, templates and resources that have been put to the test on numerous due diligence and integration efforts around the world, the complete guide to mergers and.
The effect of mergers and acquisitions on the performance of. Pdf knowledge representation kr is a fascinating field across several areas of. Read every representation and warranty carefully to make sure they accurately reflect your business, because youll be responsible for living up to them. Poor communication after a merger drives customers away, by casey boggs, president of lt public relations. Chapter knowledge 18 acquisition, representation, and reasoning.
An acquisition on the other hand is simply a purchase. The emphasis in this white paper is on what makes mergers work in the postacquisition phase. A semantic net is just a graph, where the nodes represent concepts, and the arcs represent binary relationships between concepts. An idealized world description not necesserily symbolic internal symbolic representation. A framework for representing knowledge marvin minsky mit. It professionals and others may monitor and evaluate an artificial intelligence system to get a better idea of its simulation of human knowledge, or its role. An example of a knowledge qualified representation is. Thus, knowledge representation can be considered at two levels. Pdf a tour towards the various knowledge representation. Mergers and acquisitions have become common business tools, implemented by thousands of companies in world.
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