The Study On Mergers And Acquisitions Of Listed Companies And Their Impairment Risks

Business mergers often produce "goodwill",Which is a corporate asset that is difficult to identify and handle.In the wave of mergers and acquisitions in recent years,the number of enterprises that generate huge goodwill has experienced explosive growth.However,due to the failure of the merger party to achieve performance commitments during the commitment period,the merger and acquisition party suffered huge losses of goodwill impairment.The examples are everywhere,and there are many companies with superficial calms that face huge hidden risks of goodwill.Why is there a huge amount of goodwill?What are the consequences and consequences of the company's huge amount of goodwill impairment?Some of the issues related to the merger of goodwill are hot issues of great concern to accounting information stakeholders.Based on the above background,this paper selects the case of Jianrui Woeng's acquisition of Watmar as the research object,analyzes the causes,economic consequences,and the reasons for the huge amount of goodwill impairment in the merger and acquisition,and this time The lessons learmed from the failed merger and acquisition case are the starting point,and the proposal of listed companies to prevent the huge risk of impairment of goodwill is proposed.This article includes the following six parts:The first part is an introduction.This part covers the research background and research significance of this paper.In addition,it also reviews the related research results at home and abroad,summarizes the research contents and research methods,and points out the innovation of this paper.The second part is a theoretical review.The theory of goodwill and the theory related to mergers and acquisitions are introduced,the essence of goodwill and the measurement method of goodwill are defined,and the theoretical basis of the research on the motivation of mergers and acquisitions and the theoretical knowledge related to M&A valuation are provided.The third part is a case study.Selecting the case of Jianrui Woeng's acquisition of Watmar,the paper introduces the basic company profile of the merger and acquisition of Fang Jianrui,the acquired company,and the merger and acquisition background,and the merger and acquisition process,and introduces the business reputation of Jianruiwo.The formation and depreciation of the basis for the subsequent analysis laid the foundation.The fourth part is the analysis of the goodwill and goodwill impairment of the case company mergers and acquisitions.First,explore the causes of huge goodwill;secondly,analyze the economic consequences of huge goodwill,mainly on the three aspects of the impact on the stock market,financial and non-financial performance;finally,the impairment of huge goodwill Reason for analysis.The fifth part is to prevent the huge risk of goodwill impairment risk.This part begins with the standard-setting level,the regulatory level,and the enterprise management level,and proposes relevant proposals to prevent the huge amount of goodwill impairment in eombination with the case.The sixth part is conclusions and limitations.Summarize all the analysis in the previous section and point out that the article still needs to be improved.The innovation of this paper is based on the research of Jianruiengeng,a cross-industry M&A enterprise.Combining the unique perspectives of M&A incentives and valuation fairness,this paper comprehensively examines the causes of huge goodwill and innovative introduction of stock market reaction.Analyze the economic consequences brought by huge commercial reputation,and explore the reasons for the huge value of goodwill impairment from the macro and micro perspectives,and make up for the lack of comprehensive and specific research vacancies.Different from the previous ones,the analysis is based on a single angle.This paper puts forward some suggestions to prevent the risk of impairment of listed companies' goodwill from three aspects:norm-making,supervision and enterprise management.