Research On The Accounting Evaluation Of Synergy Between Huarunsanjiu And Tianhe Pharmaceutical Industry

With Along with our country economy high speed development and gradually perfect the capital market operation mechanism,merger and acquisition started to gradually become the enterprise to expand in order to realize the leaping development of a kind of common means of capital operation.In recent years,with the development of national GMP certification and low industry concentration,the pharmaceutical industry has gradually become one of the most frequent mergers and acquisitions activities.Successful mergers and acquisitions will enable pharmaceutical companies to integrate within the industry and strengthen their business capabilities.However,m&a activity also carries risks,and whether m&a can achieve synergies is a measure of the success of m&a.By analyzing the characteristics of m&a in the domestic pharmaceutical industry,taking the research method of accounting index as the main evaluation method,this paper analyzes the problem of whether the m&a cases of China resources sanjiu,a large domestic pharmaceutical listed company,obtain the synergistic effect.First of all,based on the theoretical model for the case of possible collaborative opportunity to recognize,secondly to accounting index method to build m&a synergy effect evaluation system,further from the management synergy,management synergy,financial synergy financial index test evaluation on the three aspects,and join the enterprise strategic target element analysis synergy is achieved,finally triggered by case enlightenment and reference Suggestions,provide certain reference for the pharmaceutical enterprise mergers and acquisitions.This paper is divided into seven parts.The first part analyzes the background,significance,content and method of this paper and studies relevant literature.Concept,the second part will m&a motivation and the synergistic effect of the concept,classification and recognition method and evaluation method has carried on the theory of consolidation,determine the main accounting index method adopted as the data evaluation method in this paper.The third part is based on the analysis of China'spharmaceutical industry background,the introduction of huarun san-jiu mergers and acquisitions and pharmaceutical individual case,introduces the case of mergers and acquisitions both sides operating situation,mergers and acquisitions motivation and m&a process.The fourth part,based on the second part explained the synergistic effect of identification method,the three aspects from the operation,management,financial qualitative identification of the case possible synergy opportunities,secondly,using the accounting index method to build synergy evaluation system,and also from the above three aspects to China resources keep on mergers and acquisitions and pharmaceutical evaluating and analyzing the performance change before and after m&a happened to verify whether the merger synergies,and then to the company the development strategic point of comprehensive evaluation on the development strategy of the company whether the synergies.The fifth part,through the previous case analysis,causes enlightenment and puts forward some Suggestions for other m&a activities in pharmaceutical enterprises.The sixth part research conclusion and prospect.At last,this paper proposes the deficiency of the research.