Research On Transaction Costs In The Merger And Acquisition

Economic globalization and the growing enterprise competition, greatly stimulates the occurrence of M & A business, especially multinational mergers and acquisitions becoming more common. However, a large number of mergers and acquisitions costs make mergers and acquisitions difficult. Many mergers and acquisitions ultimately failed because of inadequate control of transaction costs. Therefore, it is important that strengthening M & A transaction cost research, controlling of mergers and acquisitions costs fundamentally, and achieving the successful implementation of mergers and acquisitions.This thesis is divided into seven parts. The first part introduces the topics of the background and significance, status, research ideas and methods; the second part describes the theories of the cost of the transaction in detail; on the basis of theory, the third part briefly introduces the enterprise elements of M& A, focuses primarily on corporate M& A transaction costs of the type, and deeply analysis transaction costs on a perspective of explicit and implicit transaction costs; the fourth part focuses on the transaction cost effect on M& A analysis the impact factors of M& A transaction cost, then, explains the impact that transaction costs on mergers and acquisitions from two dimensions of the increase and decrease; The fifth section focuses on the M& A transaction costs of accounting and information disclosure of transaction costs and gives new ideas for the M & A accounting research; the sixth part gives control measures of transaction costs basis of the above; the last part concludes the papers, and summarizes the paper's shortcomings, which provides useful lessons and explore for business practice and further theoretical studies.