The Evaluation Of M&A Investment Value Based On Synergistic Effect

The value of the enterprise valuation,is the modern enterprise investment and acquisition activities in the core of the link, but also the focus of investment and mergers and acquisitions. Accurate estimation of the underlying asset price is of great significance to ensure the successful completion of M & A investment and improve the realization rate of M & A integration. From the realization of the merger and reorganization of the transaction after the completion of the market reaction situation, the overall valuation of mergers and acquisitions reorganization in a reasonable range,the market has been widely recognized, which benefited from the evaluation of the market for more scientific understanding of the evaluation parameters for the choice of closer to the market Of the reality, but also benefited from a large number of mergers and acquisitions of the synergies is not very significant. When the Chinese capital market is like the United States as the "wave of mergers and acquisitions," the era, the existing market value-based evaluation system will be difficult to fully meet the investment and investment for the valuation of demand.In our country, the history of the transfer of property rights for the assessment of the background, and in the context of economic globalization, enterprises, especially state-owned enterprises to take various forms of investment, investment and acquisition of capital operations to invest in mergers and acquisitions as the background of how to assess Reflecting the value of investment objects, the value of the target company, and how to conduct scientific and reasonable supervision, is the subject of systematic research. China's investment and mergers and acquisitions regulatory authorities,especially the SASAC, the SFC, etc., are beginning to actively promote the assessment based on investment value for the merger and reorganization of enterprises to provide decision-making services. The community's understanding of the positioning of assessors and assessors in the valuation of investment value has also changed, that is, the investment value report only serves a specific client.Based on the theory of M & A and the theory of investment value, this paper makes an in-depth analysis of the enterprise value evaluation in M & A activities, emphasizing that the fundamental purpose of M & A is to create value,and the purpose of asset evaluation is to serve M & A transactions. And then analyze the relationship between investment value and market value, investment value and transaction price, and determine the value of the investment value of the acquired enterprise asset evaluation.This paper also puts forward the improvement measures of the investment value evaluation method, and combines the synergistic effect analysis with the traditional income method in assessing the investment value of the acquired enterprise. Finally,taking GZ Dairy as an example,according to the previous theory to practice,and will be derived from the value of business investment and market value of the results of comparative analysis, hoping to provide a reference for further study of investment value assessment.