High-tech Enterprises M&A In Pricing And Risk Management

Merger and acquisition are the important approach, which enterprises grow and expand by. And they are the capital operating activities with high risk. It is the critical for enterprises to enhance merger and acquisition's risk management. This can help company to improve merger's efficiency and reduce merger's risk.In M & A activity, the goal is to ensure accurate assessment of the value to the success of mergers and acquisitions. The most important thing is to choose science, the applicable methods. In the current background of knowledge economy, the uncertainty of the modern enterprise is a significant feature in the operating environment. uncertain whether the investment environment will seize all opportunities to a large extent, influence and determine the value of the business. To the traditional methods of valuation analysis showed that although the discount cash flow method is theoretically more mature, But uncertainty in the market environment, the discount cash flow method can accurately assess the value of M & A target firms. M & A has the characteristics of high-tech options, under certain assumptions. Option Pricing Model can be used to assess the value of M & A target firms. Option Pricing Theory in the assessment of the value of corporate mergers and gain it. It features excellent opportunity to assess the value of uncertainty.We believe that the deepening of the reform of China's economic development and capital markets become increasingly mature. The merger will be greater access to China's high-tech development. And Chinese enterprises will unfold more mature, ability to seize new opportunities and cope with the international success of the impact which is the wave of mergers and acquisitions. This paper is divided into four chapters:Chapter 1 : Introduction. This article will introduce the purpose of the study and its significance, domestic issues related to the status quo, theoretical tools and methods used by the papers, theses and logical structure of the basic ideas, account of the needs of readers and other issues related papers.。Chapter 2 : It is M & Pricing Theory and Methods of high-tech enterprises. M & A chapter of the traditional theories and methods are summarized in pricing. These high-tech enterprises based on the pricing of properties and the significance of the new high-tech enterprises with innovative methods for pricing options pricing.Chapter 3 : It is high-tech M & A risk management. It begins with a brief introduction of high-tech M & A pricing significance and role .This chapter put M & A risk management process and the establishment .It issues risk identification and control in detail. Lastly it made a case analysis on this basis.Chapter 4: Aggregate .