Government Control?Assessment Agency's Property And Assessment Of Value-added Rate

With the continuous deepening of the reform,the number and scale of mergers and acquisitions of state-owned listed companies have been expanding,Assets appraisal plays an increasingly important role in mergers and acquisitions.However,due to the imperfect capital market development in China,the asset pricing mechanism is not perfect,and the appraisal value of assets becomes an important basis for the pricing of both parties,Intervention in the asset assessment process and the results provide the motivation.Research has shown that all levels of government,as the ultimate controller of the stateowned listed companies,have the behavior of intervening in M & A.Both the emergence and development of the asset valuation industry in our country are closely linked with the government,and the selection of the evaluation institutions will be influenced by the government control.Therefore,from the point of view of the property of the evaluation institution whether it has a government background,it is necessary to study whether the government has the effect of controlling the value of the assets by choosing the evaluation institutions of different government backgrounds and assessing the government's control over the property of the institutions.To what kind of impact more practical significance.This paper studies the effect of government control on the value added rate of asset appraisal of M & A from the perspective of the government level,and introduces the property of the appraisal agency to further study the impact of the property of appraisal agencies on the government control effect.The findings are as follows:(1)Government control can affect the value-added rate of assets appraisal of mergers and acquisitions,and show different effects when listed companies buy or sell assets.(2)Different levels of government have different effects on the assessment of the value-added rate.The central government and the municipal government at the municipal level and below have a positive impact on the rate of value-added of assets assessed when the assets are placed and placed respectively.The effect of provincial government level on appraising valueadded rate is not significant.(3)The government-controlled evaluation agencies have enhanced the control effect of the government,and the evaluation agencies with nongovernment background have a weakened effect on such control.