The Study Of Value Added In Corporation M&A

With the continuous development of market economy, the number and scale of M&A appear the tendency of speedy increasement. It is a important method for M&A to deepen the reform of state-owned enterprises , amplify the core competitiveness of corporation and achieve the transition of economic growth through adjusting the industrial structure. M&A also play a important role on economic structure adjustment and the transition of economic growth of our country in the present stage. Therefore, it is imperative to research the inner principle and the effect of M&A. The article research this problem from the angle of value added. At present, the research of corporate value added of M&A have economic and realistic significance. In the condition of market economy, the direct purpose of production and management in corporation lies in the most value added. It is proved that many corporations develop through M&A. Furthermore, The research of corporation value added may do good for ruling M&A market of our country and industrial economic structure through study the experience of developed country. At the same time, to fulfil the aim of national corporation value added, the research may guide corporation to enhance core competitiveness in terms of actuality of corporation.In this article, the author first analyzed the different theories of corporate value, exerting the principle of marx's labour value, deeply analyzed the corporation value added and pointed out the method and road of value added; Secondly, combinating the procedure of succseeful M&A, the article analyzed the costs and earnings of M&A value added and drawed the factor that lead M&A value added. comprehesive evaluation system were established on the basis of EVA with DuPont analysis. finally, on theground of this factor, combinated the corporate of Tsingdao brewery company limited, the article analyzed and evaluated Tsingdao corporate value added and questions that existed in the later 1990s, finally, on the foundation of evaluation system on M&A value added, some relevant suggestion and tactics are expounded to direct national corporation to engage in M&A.