题目内容

A target firm's high employee turnover is often considered a destroyer of value.

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The target firm's underutilized borrowing capacity is often considered a source of value.

Net synergy may be estimated as the difference between the sum of the present values of the target and acquiring firms, including the effects of synergy, and the value of the target firm including the effects of synergy.

The present value of net synergy is the difference between the present value of projected cash flows from sources and destroyers of value.

Strategic alliances often make use of written contracts rather than more formal legal structures such as a corporation.