Coal Mine Enterprise Merger and Acquisitions Risk Empirical Research Based on DEA

Presently, Chinapsilas coal enterprises are under the merger and acquisition (M&A) phrase environment. Enterprises M&A are frequent. As coal enterprises M&As have bigger uncertainty and risk, facing all kinds, varying degree objectively exist risks, coal enterprises decision-makers deeply feel unable, and urgently need related theoritcal guidance and help. The paper from three aspects built coal enterprises M&A risk impact factors index system, and collected 13 enterprises related data during 2004-2008, The paper analyzed these data by data envelopment analysis (DEA). The result was in line with the actual situation, which demonstrated the methodpsilas effectiveness in coal enterprises M&A risk analysis. Finally, taked Yanzhou Coal to buy Jisan Coal as example, the paper pointed out the path of M&A risk reduction.