基于技术创新战略的发电集团并购中价值评估的研究-技术经济及管理专业论文.docxVIP

AB AB STRACT ABSTRACT：MergerAcquisition is an important way that the enterprises early on the capital expand and strengthen the technological innovation capability．Based on studying MA theory of the western developed country,the enterprises strategy theory and classic cases of MA as well，this paper mainly discussed the construction of technological innovation strategy．First，it analyzed the inside and outside environment of our electric power industry,then summarized the type and particularity of MA in electric power industry．Aimed at acquiring core competition capability,this paper built the electric technologi【cal innovation strategy, which is electric power dominant technology．Furthermore，after the comparison of both inside and outside implement method of the strategy,this paper makes clear that MA method is a very effective way to getthegoal． Value assessment is the base of MA pricing process and somehow determines the whole MA activity．This paper first make sure the important role of the value to enterprise，then summarized the type of value emerging in MA activity and the main methods that been used in value assessment．Free cash flow of enterprise which is classified in different stages by future cash flow has been discussed and a case has been given to measure the tangible asset．Tllis paper aims at setting up one suite of evaluation indicator system which is objective and quantifiable．After setting the technological innovation capability indicators，AHP evaluation method has been used to quantify each indicator．Faced with the difficulties and inefficiencies in MA of electric power industry,electric power supervision is needed and some useful suggestion has been given in the end of this paper． KEYWoRDS：mergers and acquisitions；technological innovation strategy；value assessment；technological innovation capability CLASSNO：F204：F273 学位论文版权使用授权书本学位论文作者完全了解北京交通大学有关保留、使用学位论文的规定。特 学位论文版权使用授权书 本学位论文作者完全了解北京交通大学有关保留、使用学位论文的规定。特 授权北京交通大学可以将学位论文的全部或部分内容编入有关数据库进行检索， 并采用影印、缩