| The research background of this article is that the activity of M&A in the new energy automobile industry has been increasing in recent years,but the failure rate of M&A has been at a high level and the effect of M&A is not good.One of the main reasons is that the transaction price of both parties is not reasonable under the misleading of unreasonable evaluation value.Accuracy of evaluation value plays a key role in mergers and acquisitions,but the difference between evaluation value and book value always exists.Evaluation appreciation is the manifestation of this difference degree and is an important criterion for evaluating whether the asset evaluation value is reasonable.The research purpose of this paper is to study the factors that affect the evaluation of value-added in the merger and reorganization of new energy enterprises and how to influence the mechanism,focusing on the evaluation of value-added and its various influencing factors.Research on this issue is of key significance to analyze and evaluate the rationality of value-added,the improvement of the success rate of mergers and acquisitions,and the enhancement of the rationality of asset pricing.This paper uses case analysis and empirical analysis methods to systematically analyze the factors that affect the evaluation and appreciation of new energy automobile industry in the process of mergers and acquisitions.Firstly,two merger and reorganization cases,Keliyuan’s acquisition of CHS equity and Keliyuan’s acquisition of Guibo Xinyuan,are taken as the introduction cases,and the relationship between the different factors in the two cases and their respective evaluation value-added rates is compared and analyzed to find out the factors that may affect the evaluation value-added rates in the two cases,including the proportion of research and development expenses,intangible assets,fixed assets,asset-liability ratio,enterprise scale,evaluation organization,evaluation method and policy impact.Then,using spss software,taking the successful mergers and acquisitions in the new energy automobile industry from 2013 to 2018 as the research object,this paper makes an empirical analysis on large sample data,analyzes the impact mechanism of each index on the evaluation of value added,and verifies the evaluation hypothesis.Through case analysis and demonstration analysis,the research conclusion is drawn:the proportion of research and development expenses,intangible assets and evaluation methods are important influencing factors of evaluation value-added rate,and the proportion of research and development expenses,intangible assets and evaluation value-added rate have a positive correlation.The evaluation method uses the income method to obtain a higher evaluation value-added rate.It is concluded that the four factors of fixed assets proportion,asset-liability ratio,transaction scale and evaluation institution have no significant influence on evaluation value-added rate.The research in this paper is of vital importance to the perfection of the theories and methods of asset appraisal,the standardization of the asset appraisal industry,the improvement of the rationality of the value-added of asset appraisal,the strengthening and perfection of the theoretical research on mergers and acquisitions in China,and the promotion of the healthy and orderly development of mergers and acquisitions in the new energy automobile industry.It is of great practical significance to the promotion of the development of the asset appraisal industry in China... |
