并购中目标公司的选择.docVIP

内容摘要 随着社会经济的高速发展及经济全球化的日益加强，企业并购成为公司之间企业竞争的一种重要的形式，为企业的融资，资产重组，调整产业机构开辟新的出路。但伴随并购高发生率，并购失败发生率在国内的现状较发达国家是相当高的，源于我国企业并购理论起步较晚，还不算太成熟。 企业并购作为企业发展的渠道，是一项复杂的系统工程，根据国内外大量的并购实例经验，并购失败的主要原因是目标公司的选择不当。目标公司的选择是企业实施并购前期决策，也是最关键的步骤，因此，如果并购中选择的目标公司并不适合本企业，那么后期的工作再努力也达不到最初的目的。 因此，本文主要以并购后能给企业带来较大的经济效益，加强企业的竞争优势，实现资源互补，达到一体化为目的，讲述并购中如何选择最优的目标企业这一问题。 关键词 企业并购；目标企业选择；企业价值估计  The Choice of Target Enterprise Mergers and Acquisitions By:Zhang Caihong Supervisor: Associate Professor, Luo xin Abstract With the rapid development of social economy and the growing economic globalization, mergers and acquisitions to become the company one of the important form of competition between enterprises, for the enterprises financing, asset restructuring, open up new ways of industrial structure adjustment. But with high incidence of acquisition, merger and acquisition failure rate in the domestic status quo of the more developed countries is quite high, from the enterprise ma theory in China starts late, its not too mature. Mergers and acquisitions as channels of enterprise development, it is a complicated system engineering, according to the experience of a large number of mergers and acquisitions at home and abroad instance, the main cause of the failure of the merger and acquisition is improper choice of the target company. Selection of the target company is enterprise implementation of merger and acquisition of early decision, which is the most critical step, therefore, if the choice of target company in ma is not suitable for this enterprise, so late to work hard and reach the original purpose. Therefore, this article mainly after ma can bring great economic benefits, enhance the enterprise the competitive advantage, realize complementary resources, to achieve integration, for the purpose of about mergers and acquisitions in the question of how to choose the optimal target enterprise. key words Enterprise mergers and acquisitions; Target enterprise choice; The enterprise value estimates