Researchon The Valuation Of A State-ownde Enterprises Merger And Acquisition Of B New Otc Market Enterprises

In recent years,the development speed of the new over-the-counter market is amazing,the current number of new over-the-counter marke enterprises reached 11630,the total market value of nearly 5 trillion,acquisition of new over-the-counter marke is like a raging fire,but all are related to the acquisition of the core and the most important program is on the subject of the company's valuation,due to the characteristics of their new over-the-counter marke,resulting in new over-the-counter marke companies the valuation is not easy,it is difficult to judge the value of the investment,has seriously affected the financing and development of the new three business it can effectively use the existing valuation models of three new enterprise objective and comprehensive evaluation of the equity value,it is of great significance.This research is based on case analysis method,and the A B company merger and acquisition as an opportunity to explore the valuation methods for B company,and then use the method of valuation of B valuation of the company,this paper is divided into five parts,The introduction part focuses on the whole structure of the paper.First,it introduces the background,significance and significance of the thesis,the research methods,content and target,finally combing the domestic and foreign research status about valuation.The second part focuses on combing the theory of valuation and the commonly used valuation methods,including cash flow discounting,market comparison,encouraging discount and economic increase.The third part mainly introduces A company and B company,analyzes the motives of A company's acquisition of B company,and analyzes its operation capacity,profitability and solvency based on its annual earnings report.The fourth part uses the company of discounted free cash flow,price earnings ratio,net rate and asset base valuation of B company,and the comparison of several methods of valuation were analyzed,finally,cash flow discount method and asset based approach to the overall value of good reaction of B company.Finally,the conclusion is the conclusion,the whole paper is summarized and analyzed,and the corresponding conclusions and relevant suggestions are put forward.Through the research of this paper,hope to provide a reference to state-owned enterprises mergers and acquisitions MampA pricing A B company,also provide the basis for the enterprise management decision,accelerate mergers and acquisitions between the two sides,but also can provide reference for similar new three mergers and acquisitions valuation pricing,to promote the study of new over-the-counter marke business valuation field.