摘要
企业并购在中国已成为一种活跃的市场行为,作为资源整合、提高效率的手段,其基本动因在于对并购价值正效应的预期,即并购能够产生价值增量。对目标企业的价值评估是决定并购成功与否的重要因素,因此,在并购中选择运用企业价值评估方法时,不仅要了解各种估值方法的特点,更为重要的是从并购创造价值的角度,选择适当的方法并相应予以调整,以利于作出正确的并购决策。
As a means of integrating resources and increasing efficiency, M&A of corporation has been an active market behavior, with the basic motive in the expected positive effects, or the created value. Valuation of the target corporation is a decisive factor in the success of M&A. As a result, we should not only learn the features of various valuation methods, but also select the proper method and adjust it from the perspective of value creation. It helps to make the right M&A decision.
出处
《审计与经济研究》
北大核心
2004年第3期54-57,共4页
Journal of Audit & Economics
