Study Of Mergers And Acquisitions In The Financial Problem

In retrospect, there have been five great campaigns in the history of merger and acquisition in western countries, in which substantial experiences have been accumulated and the theory becomes more and more systematic. In China, with the development of market economy and reform of state-owned enterprises, an increasing number of mergers and acquisitions take place. However, compared with foreign countries, there is still a great gap in the theory study and practice of merger and acquisition, which is reflected in financial issues, and does great harm to the fast and healthy development of merger and acquisition of our enterprises.Based on the overall studies at home and abroad, the essay explores in detail financial issues in the enterprise merger and acquisition, and discusses profoundly the pricing, payment method and financing method. First, the problems in pricing are explored, such as information asymmetry, single pricing, and inaccurate assessment of immaterial asset. Second, the problems in payment method, such as single payment method, are inquired. Third, the problems in financing method, such as the shortage of internal accumulated capital, the limited internal-financing resources; limited financing channel; the financing difficulties among small and medium sized enterprises as well as the companies with an unsatisfying performance; unregulated operation, excessive limitations in financing in the merger and acquisition. And then, the corresponding reasons are analyzed:the unsound system, excessive intervention of the government, the defective agencies, and the imperfect financial environment. Finally the effective solutions are proposed, such as redefining the role of the government, perfecting the system, improving the financial environment selecting the reasonable method of pricing and financing, enhancing consciousness of preventing risks and, fully exerting the roles of agencies.The above detailed analysis is intended to provide guidance and suggestions for the activities in enterprise merger and acquisition, to prevent the merger and acquisition activities in our country from risks and to develop rapidly and healthily, to promote metabolism of our enterprises and optimize the social resources.