Rearch On Evaluation Of Target Enterprise In M & A

With the rapid development of market economy, the company's M & A restructuring the entire society is increasingly becoming one of the focus of attention, and merger and reorganization of the various issues arising in academia and industry has also become an important research direction. Nobel Laureate in Economics, History of the United States economist Stigler once said: Looking at the world famous large enterprises and companies, almost no one is not at some point in some way through the capital operation developed , and no one is to rely solely on the accumulated profits of the enterprise's own developed. The historical development of the world economy fully proved the correctness of this thesis. Since the late 19th century until now, have taken place in the world's 5th wave of mergers and acquisitions. On the target and how to correctly assess the value of enterprises has become one of the key factors of mergers and acquisitions. Whether mergers and acquisitions to achieve the desired success, the primary problem is a reasonable assessment of mergers and acquisitions in the value of the target company.M & A process will generally be divided into three stages: target selection and evaluation phase, to prepare the planning phase, implementation phase of the acquisition, including target selection and evaluation of the primary M & A activity is the basic link, and the goal is to assess the value of the core content of the assessment. Papers in the value of mergers and acquisitions in the target company based on the assessment of earnings and mergers and acquisitions M & A costs and the risk of ex post analysis of the financial results of the integration and evaluation of mergers and acquisitions, combined with the case of mergers and acquisitions in the goal to assess the value of the business discussed.