Mergers and acquisitions (M&As) have become a more and more important topic in the management and development of companies. Companies usually conduct M&A to preserve or extend their competitive advantages. However, M&As usually fail in real life. For the given bidder company, a critical step to...

Based on the minimal reduction strategy, Yang et al. (2011) developed a fixed-sum output data envelopment analysis (FSODEA) approach to evaluate the performance of decision-making units (DMUs) with fixed-sum outputs. However, in terms of such a strategy, all DMUs compete over fixed-sum outputs...