Research Of Enterprise Merge & Acquisition Valuation Assessment

After several decades of development, China's M & A market has already poles apart from the original model. However, in the base of rapid development of economic growth and advanced technological means had already highlighted the growing role of context, the recent corporate mergers and acquisitions are often Criticized by the public, on the other hand voice of the loss of state domestic assets and foreign assets buying the domestic assets in a very cheap price which apparent lack of fair has never broken off. Then what is the reason?In addition, although the quantitative and after-effects of research M & A has been explained as an important factor in M & A, but the research has focused on the overall simple data processing. It's lack of in-depth study the value of the key variables during specific corporate mergers and acquisitions what determining the value of the process and impact of mergers and acquisitions. In view of this, in the base of the previous studies, based on the help of corporate value theory, equilibrium theory, and other modern mainstream economic theory and econometric, mathematical analysis method, I have studied form two levels of including theoretical and empirical sides of the value of M & A, and accordingly to make accurate determination of the value of corporate mergers and acquisitions. In the end, I also have given the rationalize proposal of the value of the mergers and acquisitions of enterprises.In this paper, first based on the phased and particularity development of Chinese enterprises, in contrast with foreign acquisition history has showed that: Although there are many ways determine the value of the enterprise M & A, but discounted the future value of the enterprise is still value of enterprise M & A. On the basis of this and by comparing the different theories and the value of its real link, I selected the enterprise value of the future and the discount rate as the entry point for research. After continuous in-depth and open theoretical assumptions, I have proposed a comprehensive research enterprise value of the analytical framework of history Contrast-enterprise value of mergers and acquisitions-the value of the calculation and improvements-the expected introduction of uncertainty. And in the final of the paper I also have in-depth conducted the efficiency of M & A. Compared with the existing research, this analytical framework from make up the statistical shortcomings to some extent for a one-sided emphasis on effective after which means that in the future history always is the truth, and highlights the most important factor value in the enterprise M & A. More importantly, the analysis concluded the framework of the existing theory, used the theory of different ways through studying real meaning of different studies and the mathematical approach to reveal the key variables in the actual value of M & A that expectation is in the leading position in the decision of the Enterprise value during mergers and acquisitions. There is no doubt that as the continuous progress of the China's M & A market process, these key variables will play a crucial role in determining the value of corporate mergers and acquisitions.Further study of this article is analysised by the value of M & A comprehensive analysis framework for empirical research, that is, the efficiency of M & A. In view of this paper using the clinical diagnosis methods and combining the existing methods mentioned in the text of this article, I have analyzed the efficiency of the Enterprise M & A as an example. Finally, based on this paper, the theoretical analysis and empirical conclusions, we have proposed reducing the value of M & A fallacy of the relevant recommendations.