Evaluation Of Machinery And Equipment Value From The Perspective Of M&A

With the development of industry for decades,China has been the largest industrial output in the world,but the quality of industrial output needs to be improved urgently.It is in this context that the state proposes"made in China 2025"to strategically adjust the industrial industry,adjust the industrial structure,optimize the industrial layout,eliminate backward production capacity,and optimize the allocation of social resources.The rapid development of M&A and reorganization activities has gradually become an important means of industrial structure adjustment,survival of the fittest of listed companies and optimal allocation of social resources in China.As an important part of the process of asset reorganization,asset appraisal affects the course of asset reorganization and the anti-market after the transaction Should,is the buyer and seller and the investor's important concern,especially in the merger and acquisition process will have part of the assets split reorganization and sale.Therefore,this paper focuses on the pricing of some assets in M&A,that is,the pricing of machinery and equipment assets.Based on the internal factors of current assets,human resource input,machinery and equipment input in fixed assets,plant input in fixed assets,long-term equity investment and external factors of technological progress,this paper calculates the contribution rate of current capital input,human resource input,machinery and equipment input,plant input,long-term equity investment to enterprise value added value by using the improved Cobb—Douglas production function^[1]-[3].According to the needs of the evaluation,44representative companies are selected,and the contribution rate of each part of the assets is obtained by multivariate linear regression analysis of cross section data.value of the machinery and equipment assets to be acquired.Firstly,this paper summarizes the motivation,value evaluation theory,evaluation method and influencing factors of M&A at home and abroad,then analyzes the classification of industry and the composition and characteristics of enterprise assets from the perspective of M&A,then summarizes and expounds the applicability of traditional evaluation methods in M&A,and uses contribution rate combined with income method to establish some asset value evaluation models.The empirical results show that this method has strong pertinence in M&A,rather than just giving a market guiding price.From the point of view of M&A,it can reduce the risk that the utilization of resources after M&A is not in place,do a good job of risk management in advance,and reduce the operational risk of enterprises after M&A,which has very practical.