| dc.description.abstract | The industry of high tech ,financial service ,telecom and medium in Taiwan, is now faced a high competitive environment. The results of the competition is similar market share rate ,limited growth space and inefficient operation in each other. Especially ,the high tech industry is faced more pressure of global competition ,micro profit and external coordination. Because the private equity fund has both of the professional skill and corporate management experience. It is not only provide the huge funding resource ,but also bring in the new view of corporate operation. But in the other hand ,the high leverage debt, seeking for the short term capital gain and might leading the corporate to go private from public equity market to avoid the regulations of investment in China, are the issues which might cause the Government’s attention.
This paper is trying to provide the types of corporate acquisitions and their strategies，compare the difference between private equity fund，venture fund and hedge fund. It also document the types, financial structure, and risk characteristics of Leverage Buy-Out(LBO). This research utilizes discount cash flow method and market comparison method to estimate the market value of the selected company by focusing on the company’’s relevant financial information.
The finding of the research shows that although all methods have their own theoretical foundations, different methods provide different intrinsic stock values. In addition, although there are differences among stock values obtained from calculation methods considered, when comparing with the numbers provided by the selected company, these intrinsic values are in the reasonable range | en_US |