The Research On M&A Integration And Enhancement Of Enterprise Value

At the premise of M&A, making the relations between M&A strategy, synergistic effect, core competencies, sustainable growth and value enhancement of enterprise clear, acknowledge that M&A strategy must be based on the enterprise themselves core capabilities, and declare that through post-mergers integration inspired synergy, proliferate and enhance core capability, and finally, make the enterprise growth sustainable. Based on the DCFF enterprise valuation model, objected the factors that influence enterprise value,analyze the merger integration synergies driven by the impact of these values, put out the point that a great enterprise core competence and a sustaining strengthen competitive part is a irreplaceable guarantee for enterprise acquire long term excess return on investments and a strong growth. Focusing on the relationship between the core competencies integration and the ability for sustainable growth after M&A, discuss the two wings of sustainable growth strategy -- specialization and industry innovation,and the control mechanism of sustainable growth -- the unity of creativity and control. The article introduced the appraisal system to enhance the value of corporate mergers and acquisitions, and in light of actual cases of corporate mergers and acquisitions. By using the Economic Value Added Evaluation System and the Matrix Model of Accounting Index Evaluation System, evaluate the effect that enhanced of enterprise value after post-merger integration.