战略并购中目标企业的价值评估研究以AB公司战略并购HY公司为例.docVIP

战略并购中目标企业的价值评估研究——以AB公司战略并购HY公司为例 With the development of economic globalization, mergers and acquisitions has become an important mean for companies to achieve rapid growth, improving the organizational structure and management structure. M A can be classified into two forms: finance mergers and strategic mergers. In strategic mergers and acquisitions, we assess the value of the target company in order to know the equity value and the future earning power of the target companyThe value of we assessed can help us to ensure the price range and safeguard the interests of both sides, promoting the progress of the mergers and acquisitions activityIn the study of enterprise value assessment methods, scholars pay more attention to the study of real option method, but the assessment agencies are used to assess the value of the target company in the traditional assessment methods. Based on this consideration, this article analyzes how to use the traditional assessment methods to assess the value of the target company through the combination of theoretical research and case analysis. We analysis the applicability of the traditional assessment methods for the assessment of the target enterprise value by summing up the characteristics of M A and the characteristics of the traditional assessment methods. Then we analysis the contribution of the enterprise value evaluation for to determine the price range base on the results of the cost method and the discounted cash flow method, hoping that this article can guide the assessment agencies to assess the value of the target enterpriseThe application conditions for the option method used in the enterprise value assessment is not mature and some of the evaluation methods which can be understand and accepted by the evaluation institutions are rarely used in practice, like the market method and the discount cash flow method. So the article analysis the market value of the target company with the different assessment