The Study Of M&A Payment-Method In Chinese Public Company

The growth of Chinese economic is fast, the dynamics of reforming and opening-up are constantly improving, the shareholder structure reform completes smoothly in the capital market, the M&A reorganization laws, the rules and regulations consummate day after day, through the M&A in the capital market to promote the value of listed companies, realize the integration of industrial, enhance the overall competitive power of the economic have a mature environment.But in the enterprise M&A's transaction, as the payment manner of M&A is the main step of M&A transaction, whether the payment tool adopted appropriate, not only relates M&A strategy to realize, but also shows the different values of M&A information,and even determines the final result of M&A transactions. Due to the M&A of listed companies in China started relatively late, and because of equity division,payment method adopt by Chinese companies in the M$A pratices are single. But with the accomplish of shareholder structure reformation, a series of policies and regulations' introduction, the method of payment in M & A will also change.Since China has not yet formed a complete theoretical system of M & A payment, and payment of foreign M & A theory can not be completely copied, so the acquisition of listed companies in the process of payment, to have a very important practical significance.This article is to study of the payment method of Chinese listed companies 'M&A, it can mainly divides into two major parts: Fundamental research and practice research. In the fundamental research aspect, mainly introduced the process of payment method; the influencing factor, analyzed internationally the commonly used for main payment mathods as well as their use scope. In theory, it can provide a decision-making basis for the selection of Payment method; in the practice research part, unified the actual situation of China, I analyze the particularity of payment method in the M&A transaction, the difficult position in present stage implementation, as well as the root cause of these difficulties,then raised some specific strategies to perfect the payment method under a global economic integration's background ,finally through a concrete case, I analyzed the utilization of payment method in the M&A transaction.