M & A Target Value Of The Business Strategy Type Assessment Study

Since nineteen century, western developed countries establish an amount of world-class enterprises by enterprise merger, and get control over most of global sources and markets. At present, domestic enterprises are in fierce competition with foreign enterprises with the development of the world economy. Therefore, it is necessary for China enterprises to get together and form some world-class enterprises by enterprise merger, and it means much for China economy to keep long-last development in the process of economy globalization.But in China, due to old idea of target enterprise value assessment, over-governing in enterprise merger events, over emphasizing on financial statement, and lacking scientific value estimate method of target enterprise, analytic results can not reflect the real value of target enterprise so that make 80% above failures in mergers took place and slowed down China economy development. It is necessary to study the value estimate system for merging target enterprise further so that the true value source of enterprise merger can be discovered and useful method can be found.Through the study to the current literature about the valuation assessment theories, the thesis finds out the main reason of the value promote about the merger. Thinking about that over 80% of the merger failures, the reason is- the current research of the value assessment put excess attention on the bargain price of the merger, but neglected to overall value assessment. Therefore, the thesis constructs the combination model of the valuation, using the valuation combination model to discover the true value of the target enterprise, with the method of strategy valuation adds enterprise valuation to reflect the value of the target enterprise more completely .In carry on strategic value of target enterprise, especially on the strategy value assessment of the operation layer , based on the method of the practical case research and the foundation of the expert investigate, this text constructs the operation layer strategic value practical and application model of assessment so as to make the whole combination model more practicability.The textual meaning is as follows. First, it studies the main reason of enterprise merger about value promote, and put forward to carry on the enterprise merger combination model for overall worth valuation on these grounds. Second, based on the expert's investigation and the foundation of the model of Boston, it constructs a practical model about the operation layer strategy value valuation. Textual practical meaning is that the valuation combination model provided a new method for the overall value assessment of the target enterprise.