The Financial Synergy Effect Study On M&As Of Enterprises

The western countries have gone through the bigger M&A tide five times altogether so far, especially the fifth merger tide of representatives on later stage of 1990s, the scale is so big and influence power is so deep that Can't be compared by the past tides.The economy of China has already entered a new fast developing period nowdays as a hot economic phenomenon, and M&A will tend towards the abundant, ripe and normal constantly, the relevant research on it accord with the demand for the development of the era of our country too.M&A is one of the most important operation means of the modern enterprise's capital, the financial synergy is the remarkable embodiment of this export-oriented trade development strategy of advantage operation, showing capital operation skill and glamour greatly, and market economy of securitisation also promote the pharmaceutical financial cooperative effect.The financial synergy make it become one of the main reasons that leading to enterprises'M&A, its enthusiasm and one-sidedness are all worth our deep investigation and analysis. M&A synergy is not only one of the motives of M&A , but also the key to weighing and determining enterprises merge and succeed or not.At the same time it is a theory that is relatively strong too, and can be a subject getting up better guiding to practise.However, because of involved a large number of uncertain factors while merging multianalysis of the cooperative effect, especially the analysis on the financial synergy and financial risk become the problem needing paying more close attention to in company's financial affairs and strategic management.Many big enterprises didn't pay attention to the M&A synergy and failured in the end.Though enterprise of our country are of many problem , such as merge motive, merge subject qualification, merge whole property right and environmental construction of the capital market at pres, but with merge gradual perfection and ripe of market, merge financial synergy and financial risk evade result will improve further too.This text adopts the normal study method mainly.Introduce the concept that the companies'M&A and relevant modern merger theories at first,analyse synthetically that merges the definition and type of the cooperative effect, then has explained the concept of the financial synergy of M&A centralizedly , analyze the deficiency and defect of the original concept of the financial synergy further, point out the merge relevant tax laws, accountants convention and securities trading that it is not the only factor that determine to the M&A's financial synergy, regard the financial risk to evade as a very important controlling factor to consider and analyse, make concrete deep exposition on the companies that involve value appraise, merge financing way and merge choice of means of payment among financial risks,and combining " Taiji group " merge " southwest medicine company " case prove the importance of financial risk control to financial synergy.According to the case, compared with foreign developed country, point out the problem existing in the financial risk of our country's companies,and the influence that the financial synergy produced, propose the suggestion and countermeasure finally.