企業并购中目标企业定价问题研究.pdfVIP

ABSTRACT Corporate merge and acquisition (MA) become booming in china as the rapid development of market economy and the boost of global information. In this process, the key point is how to evaluate the target company and then how to choose the appropriate approach to valuate. Therefore, it seems important for us that we should study all kinds of valuation methods to ensure the quality of MA, to enhance the core competence of enterprises and to take part in the global market actively and rapidly according to western theories and practical experiences of developed countries and the specific situation in china. In view of selection of target corporate, it explains the suitable condition of evaluation methods of target corporate value in MA. Setting the MA epoch as background, this paper is studying about the pricing of target enterprise. Based on the theory of company lifecycle, target corporate can be classified into four types: newborn company, grownup company, mature company, recession company and different company has different characteristics .Then on this foundation, the paper discussed the course of choose of different companies. Ground on the strategic plan, it introduced the method of how to choosing the proper target corporate and then appraise the advantages and disadvantages of the available methods. The last part of essay apply an example of the application of evaluation methods of target corporate value in MA and proposes the process of choose the proper approach according to special situation, then gave some suggestions on MA based on analyzing the problems in the present enterprise evaluation in MA of Ch