Firms Mergers And Acquisitions, Increasing Value, And Control

The firm is a typical organizational form of the market economy. Mergers and acquisitions (i.e., M&As) are a means of firms expansion and growth. Increasingly, M&As have assumed an international dimension due to global economic integration and the dismantling of barriers to trade and investment. M&As are undertaken by firms to achieve certain strategic and financial objectives. To some, M&As, increasing the value, and control are an important way to develop firms.The dissertation consists of seven chapters.It is included in the contents of Chapter 1 that practical meaning of researching the firms M&As, the general situation of researching the firms M&As at Home and Abroad, and firms M&As and capital analysis, etc.Chapter 2 analyzes the organizational forms of the firms and organization behavior, M&As characteristics and types, objectives of M&As, a brief of the M&As movements about the firms at home and abroad, etc.In chapter 3, describes the historical pattern of the M&As activity of the firms from western countriesChapter 4-5 mainly study the theories of capital structure, MM's model, capital structure decisions, capital budgeting decisions, cash flows and finance evaluation, firms valuation, investment rate and related valuation analysis, etc.In chapter 6-7, after dealing with the strategy and tactics of the M&As, defenses against M&As—Anti-M&As, firms lifecycles and control of M&As behavior, analyzes and study the problem of China. It mainly includes the characteristics, necessity, historical pattern, M&As types, the problem of property rights, factors contributing to the M&As failure, the analysis based on strategy and tactics, the analysis based on integration, countermeasure and suggestion for developing the M&As activity, etc.