Research On The Share Pricing For Corporate Control Transferring In Listed Companies

As a way of M& A in our country, the corporate control transferring which can also be called takeover can make enterprise develop rapidly in low cost. It is significant for the enterprise which need expanding. The share pricing is not only the essential procedure in the mergers and acquisition, but also a vital factor to decide whether the M&A can truly succeed or not. Undoubtedly, The both sides of M&A pay extreme attention to the transaction pricing in corporate control transferring process. At present, the pricing of the corporate control share transaction in the process of public offering has been a hot point. Undoubtedly, it is of great theoretical significance and practical value to explore the pricing mode in corporate control transferring and try to adopt some new ways used to avoid the defects of the M&A pricing approaches. Based on the normative analysis method, the thesis make research on the share pricing for corporate control transferring in listed companies with the measure of real option and game theory. On the basis of the general M&A theory and the special share structure in our country, this thesis analyses the target enterprise pricing models, discusses the value elements and affecting factors to the listed company control rights, and proposes the pricing system about the listed company control transferring. In conclusion, the article brings forward some reasonable advices on building a corporate control transferring market with public information, normative procedures and completely competition.