Country Risk And The Transnational Merger And Acquisition Value Analysis

Because the global economic integration,the whole world unifies the big market the formation,enterprises expansion and the market expansion also synchronization carries on,therefore the enterprise merger and acquisition also gradually goes out the entrance to a country. The transnational purchase and annexation enterprise oneself become the round trade barrier,enters the human other country market rapidly the main method. The transnational merger and acquisition content and the form are far more complex than the domestic merger and acquisition investment,the withstanding risk huge and the risk content is also more widespread diversely,mainly has the nationalization risk,the war risk,the policy change risk,the financial risk and the shift risk and so on. Can reflect quite comprehensive these risks are the country risks,therefore,in the transnational merger and acquisition investment country risk has become the important risk which must pay attention. The paper is analyzing comprehensively domestic and foreign studies after the transnational merger and acquisition investment in country risk aspect,in country risk international guide (ICRG) to the country risk appraisal foundation in,the utilization real options method the goal enterprise's value carries on to the transnational merger and acquisition in layer upon layer thoroughly analyzes,has promulgated the country risk from two kind of angles to the transnational merger and acquisition decision-making influence,has provided a brand-new angle of view for the transnational merger and acquisition value analysis and the decision-making.The paper first studied the present situation to in the transnational merger and acquisition investment country risk aspect to carry on the summary,simultaneously the real options value analysis method research present situation has carried on the analysis summary to the domestic and foreign transnational investments in. In order to cause the entire paper vein to be clear, the paper has carried on the introduction to the country risk and the appraisal aspect research application situation,then has carefully analyzed in the transnational merger and acquisition country risk,these analyses launched for the following research has laid the good foundation.After introduced in transnational merger and acquisition investment country risk aspect question,in the collection studies the analysis country risk to the transnational merger and acquisition in the goal enterprise value influence,first utilized the real options method in the third chapter the goal enterprise value and the merger and acquisition decision-making has carried on the analysis to the transnational merger and acquisition in; Then,the fourth chapter in country risk international guide (ICRG) to the country risk appraisal foundation in, utilizes the real options method to buy once more to the transnational merger and acquisition in the side the value to carry on the analysis, and unifies the third chapter of conclusion,infers in the consideration country risk situation the transnational merger and acquisition decision-making model; Fifth chapter analyzes the transnational merger and acquisition decision-making from the consideration specific event to the transnational merger and acquisition opportunities for investment value influence angle,and analyzed the transnational merger and acquisition,the transnational merger and acquisition investment in the example to confiscate the transnational merger and acquisition; this with the country risk target level direct correlation, moreover had the typical significance specific event.