Research On Goodwill Impairment Of South Wind Stock Acquisition

At present,China's accounting standards,the evaluation methods in the process of mergers and acquisitions have asset base method and income method,the gem companies more options to evaluate income method,the performance of mergers and acquisitions were promised to make acquisitions valuation is far higher than the real value,however,as more and more the gem companies mergers and acquisitions in the phenomenon of huge goodwill,let a person have to question the result of the gem in the mergers and acquisitions valuation.The high premium and high valuation in m&a also indicate that enterprises fail to follow the corresponding accounting standards in the process of m&a.Therefore,this paper illustrates the unreasonable phenomenon of goodwill generated in gem m&a by analyzing the amount and impairment of goodwill in gem m&a market.In addition,the case study on the acquisition of zte equipment by nanfeng shares was conducted to analyze the economic consequences of the huge acquisition of goodwill on enterprises,so as to provide reference for the valuation and measurement of goodwill in the merger of gem listed companies.The research results are helpful for the acquirer to control the value of the target company more accurately,promote the listed company to complete the merger activities more reasonably,and better enable the enterprise to obtain benefits from the synergistic effect caused by the merger in the long-term business activities,so as to maximize the enterprise value.On the premise of describing the significance and background of the research,this paper summarizes the relevant literature in order to lay a theoretical foundation for the case study.Through the analysis of the industry trend of mergers and acquisitions of listed companies,as well as the gem of the phenomenon of goodwill,which leads to the case study for the south,then using the performance analysis,the dupont analysis,event study analysis for the south,and compared with the industry analysis,and further study of the south stake goodwill the cause and the economic consequences of the dig the real reason behind the high premium goodwill,finally come to the conclusion and puts forward related Suggestions,the gem listed company merger and acquisition can rational measurement of goodwill reasonable Suggestions and opinions.This paper mainly USES the research method to analyze the causes of the huge goodwill,the impact on the economic consequences,and the degree of the impact on the economic consequences in the later period of impairment.In the form of point outline,through a case,we find the common phenomenon and risks in the gem market,and correct them,for other enterprises in the gem market,there is a certain reference significance.Through case study,the author found the following problems :(1)for the confirmation of goodwill,due to the characteristics of gem listed companies and the flexibility of the evaluation method,it is difficult to control the confirmed amount of goodwill;(2)since the stock price of the capital market is closely related to the assessment method adopted,it indicates that the confirmation of goodwill can affect the performance of the stock market of enterprises to a large extent.(3)through the analysis of the impairment of goodwill in the merger and acquisition of nanfeng shares,it is found that in the context of frequent mergers and acquisitions by the gem listed companies,the large amount of goodwill generated may produce obvious effects in the year of merger and acquisition,but it does not necessarily bring long-term benefits to the enterprises.Based on the above analysis,the author puts forward the following Suggestions :(1)strengthen the "double-height" supervision of merger and acquisition and reorganization to control the emergence of goodwill bubble from the source;(2)risk disclosure oriented,strengthen the information disclosure mechanism;(3)strengthen the management and control of evaluation institutions and implement the joint and several liability system;(4)severely punish illegal behaviors and strengthen investor education.