S企业跨行业收购对企业价值的影响-会计专业论文.docxVIP

上海交通大学 上海交通大学 MPAcc 学位论文 S 企业跨行业收购对企业的价值影响 万方数据 万方数据 1.从跨行业并购的角度来分析收入增长率和投入资本回报率对于企 业价值最终形成的案例并不是很多，本文案例从企业面临的发展战略瓶 颈到最后进行并购整合，并运用企业折现现金流模型评估了企业收购后 的价值，比较完整的描述了跨行业收购对于企业价值的影响。 2.不少中国企业正在做大做强，也会碰到这类发展过程中的问题， 对于其自身提高自己的价值进行跨行业收购有一定的借鉴意义。 关键词：跨行业并购，企业价值，协同效应，自由现金流 ANALYZE FOR IMPACT ON THE VALUE OF THE S CORP’S MERGE AND ACCQUITSION ACROSS INDUSTRY ABSTRACT More and more multinational enterprises change their business from the original industry to new industry. The free cash flow and the value of enterprise have two key driving factors: the growth rate of revenue and the return of invested capital. The characteristics and development potential of the industry are important reasons which have great impact on the growth of enterprise if no consideration of the strategy and business of enterprise itself. If the industry potential can’t meet the need of the enterprise development, it is essential to develop business across the industry, and the merge and acquisition is the best option for the enterprise. My essay mainly tells about the reason, process and result of the MA across industry. Firstly, I will introduce the background, and analyze the business through the analysis of industry、 financial statement and stock market. Secondly, delicately discussing the strategy of merge and acquisition includes the option of new industry, analysis for the potential development in the new industry, the synergies after the merge and acquisition, the fuse of different culture and strategy between the different enterprises. Finally, I will use the valuation model to estimate the value of enterprise after the merge and acquisition for the reference. The meanings of the essay are in below, The cases are less which is analyzed through revenue growth and return of invented capital for the impact on the enterprise value from the consideration of merge and acquisition across industry. The case will cover that from the dilemma the Corp S facing to the finally consolidation of merge and acqui