我国水务企业购并中价值评估的研究.pdf

ABSTRACT Water Industry is considered as a natural monopoly with charaeteristies of hi【出capital intensity,policy sensitivity,technique complicacy and commonweal．Presently,Water Industry in China is developing rapidly to meet the need of urbanization．Low efficiency and the huge investment demand but too little access to invest makes the government under the tremendous financial pressure．To resolve these problems，the government in China is promoting the water utilities industrializing and seeking to involve private capital in the provision of water services． The hi班investment rewards attract many kinds of capitals．At the same time，transnational Merger and Acquisition activities dominated by transnational corporation aggravate the structural adjustment and competition of the Water Industry in China．To resist the coming foreign enterprise，it is the fixed fact that Merger and Acquisition in Water Industry wilt stride forward to a more international，marketable，essential and scientific field．Although Merger and Acquisition in our country has gained some development，the phenomenon of target firm being priced vaguely and lacking scientific basis is not minority in the practice ofMerger and Acquisition． This dissertation mainly studies on the enterprises evaluation in Merger and Acquisition of Water Industry．It begins from the theory and novpadays charactersfics of Merger and Acquisition．It expounds that Merger and Acquisition is an important means to expand capital． The core of Merger and Acquisition is enterprise evaluation．As a method to measure the merit of enterprises and stockholders’wealthy,the enterprise evaluation has been adopted frequently In fact，the enterprise evaluation becomes the basis of capital operation and assets valued management．At present，the enterprise evaluation plays a more important role in the process of promoting enterprises modernization and corporate reorganization．The dissertation USeS the reference of the foreign country’s financial evaluation