Research Of Performance Commitment And Compensation Case In The M&A

Enterprise m&a has become a market economy activity between the important means of adjusting the allocation of resources.With the economic globalization and industrial structure adjustment,m&a as one of the important ways of social resource allocation has become increasingly active.Reasonable valuation of target enterprise is crucial to strengthen the research of the valuation problem and improve the success rate.Performance commitment and compensation,which is a compact tool to adjust the risk,is widely used in the merger and acquisition activity.Based on the relevant theories,this paper studies the research of the Hui Sheng Energy case.The first chapter of this paper is an introduction to the research background and the significance of research and the status of academic research in the field of m&a.The second chapter is about mergers and acquisitions related concept definition and theoretical research,which mainly introduces the mergers and acquisitions,corporate valuation pricing and three aspects of commitment and performance compensation system related theory;The third chapter introduces the background of the case and mainly analyzes the two counterparts;The fourth chapter is about the whole process of m&a cases;Chapter 5 is a summary and revelation of the case,which offers a few Suggestions for the whole case.This paper focuses on the three characteristics of the case.First,the early stage of the acquisition by supporting financing to raise the funds needed for the acquisition;Second,when valuating the acquisition target,the author analyzes the two methods of valuation on the following valuation process and result of comparison;Third,in order to reduce the risks of valuation,the author introduces the content of the performance commitment and compensation and analyzes the domestic m&a cases performance.