The Research On The Value Of Intangible Assets In Merger And Acquisitions Of Enterprises

With the China joined to the WTO, the economic develop rapidly, the competition between enterprises becomes fiercely, M&A has gradually become an important means to quickly occupy the market. In mergers and acquisitions, the value of intangible assets subject to the parties after the merger integration concerns.The accuracy of the valuation of intangible assets directly affects the development and results of the M&A.The objective of this study is to provide a new method for merger and acquisition of enterprise intangible asset value evaluation, using the method of quantitative analysis combining the analysis of enterprise intangible assets integration with the AHP analytic hierarchy process, thus solving the merger integration caused assets overvalued situation. This paper is divided into three parts, each part has laid a theoretical foundation for the case analysis finally, in these theoretical studies based on constructed a new AHP model. In the AHP hierarchy analysis method on, adopt the way of model analysis and case combination.Firstly, this paper introduces the related theory of M & A and intangible assets, this article defines, discussed the intangible assets include goodwill-- not. This part of the paper puts forward the idea of integration of intangible assets, to play a certain extent effect on the subsequent establishment of model.Second, this paper introduced the value of assessment method. First, introduced the method briefly.Second, used the method of cost and market conditions after use on the income method has carried on the concrete and summarized. To provide the theoretical basis of this part is essential for the last case analysis results.And it is the assessment of intangible assets value of enterprise merger and acquisition by using the AHP method. First analysis of AHP in corporate mergers and acquisitions, and valuation of intangible assets, respectively, feasibility, in simple cases cited in this section are described. Second, select the intangible assets have important implications for the merger of companies- Internet business as a case study, to be divided into intangible brand value, human resources, corporate culture and technology of four parts. Finally, the Analytic Hierarchy Process AHP model, the value of mergers and acquisitions of intangible rights of both parties to assess weight, combined with theincome approach to value of intangible assets acquired party budget, and then evaluate the value of mergers and acquisitions of intangible assets.Finally, the conclusion of this paper summarizes the research value and made inadequate research.