Enterprise merger and Acquisition cost-paper代写

留学生paper代写精选范文：“Enterprise merger and Acquisition cost”，这篇论文讨论了企业并购的成本。企业并购的成本，顾名思义就是在企业的并购活动中付出的代价。企业并购算是企业一种特殊的发展方式，它可以以较低的成本去整合其他企业的资源，来达到扩张的目的。所以在并购的过程中要对并购的成本进行管理，以此来控制和降低成本。

The cost of mergers and acquisitions is the sum of a series of costs that the main and enterprise pays in the merger activity. The main problems existed in the cost management of merger and acquisition of enterprises in China are the high cost of mergers and acquisitions, rising cost of merger management, inaccurate calculation of merger cost and insufficient attention to integration cost. The merger and acquisition process must be comprehensively managed to control and reduce the cost of mergers and acquisitions.

Merger and acquisition is a special investment activity, which has become an effective way of integrating resources and realizing low cost expansion. In the process of mergers and acquisitions, the cost of mergers and acquisitions needs to be comprehensively managed to control and reduce the cost of mergers. However, because of the immature theory of mergers and acquisitions, especially in the cost of mergers and acquisitions little research, in practice cannot be very good to guide corporate mergers and acquisitions behavior. Many enterprises in the use of cost-benefit decision analysis method, because of the lack of a comprehensive understanding and grasp of the cost elements of mergers and acquisitions, the cost of mergers and acquisitions is underestimated, mergers and acquisitions are too confident and optimistic, ultimately resulting in the failure of the merger plan. Therefore, the study of the cost of mergers and acquisitions is conducive to the success of mergers and acquisitions.

The Enterprise merger and acquisition cost is not the investment cost in the financial accounting standard, but belongs to the management accounting category, is the main and the enterprise top management in the merger strategy management essential decision information. Therefore, the cost of mergers and acquisitions should be the sum of a series of costs incurred by the main enterprises in the merger and acquisition activities. These costs include both the merger and acquisition costs in the process of mergers and acquisitions, as well as the cost of integration of the various resources after the completion of mergers and acquisitions, including tangible costs visible in the merger and acquisition activities, as well as intangible costs that are not seen in mergers and acquisitions. In order to ensure the realization of strategic objectives of mergers and acquisitions, enterprises must understand and grasp the various cost components of mergers and acquisitions, and comprehensively analyse the cost of mergers and acquisitions, avoid the runaway merger cost and rationally carry out the merger decision.

The cost of merger and acquisition should include the cost of the preparation phase, the cost of the negotiation stage and the cost of the integration phase. The costs of the preparation phase include: Mergers and acquisitions companies select target enterprise costs, intermediary agency costs, and investigation analysis costs; the cost of the negotiation phase includes the negotiating contract cost, the cost of the target enterprise's anti-merger and the direct merger expense, i. e. the merger price. M & A price is paid to the target company's shareholders in order to obtain the actual control of the target enterprise. It is the main part of Enterprise merger and acquisition cost, the cost of integration stage is the cost of enterprise realizing integration operation, which mainly includes business integration cost, organizational structure integration cost, management integration cost, personnel integration cost and cultural integration cost.

According to the characteristics and cost habits of mergers and acquisitions, mergers and acquisitions cost can be divided into transaction cost, financing cost, intermediate cost, tax cost, system cost and subsequent cost. M & A transaction cost is the cost of acquiring the target enterprise. The cost of financing is the expense of obtaining funds; intermediary fees are the consulting fees and consultancy fees paid by the M & A party to investment banks, accounting firms, lawyers and other intermediaries, which are usually in proportion to the total assets of mergers and acquisitions; Refers to the government's merger and acquisition behavior, in all aspects of the sum of the levy of various taxes; system cost refers to enterprises in the process of mergers and acquisitions, by the reality of the macro-environment in the system, the cost of the system soundness and the system execution intensity, and other factors, the subsequent cost is the completion of mergers and acquisitions, due to the merger and acquisition of the target enterprises in the management, market construction, resources integration and other aspects of the needs, often further input. Specific include: Capital cost, scale cost, management cost and human resource cost.

According to other standards, the cost of mergers and acquisitions includes the completion cost of mergers and acquisitions, the cost of integration, the cost of production and operation and the loss of mergers and acquisitions. The completion cost of mergers and acquisitions refers to the acquisition price, debt cost, transaction cost of acquisition process and other additional costs incurred by the merger and acquisition of the enterprises; The integration cost is the sum of the expenses incurred by the enterprises after the merger and acquisition of the relevant production and business organizations. The increase in the production and operation costs of mergers and acquisitions is that after the completion of the integration phase of mergers and acquisitions due to enterprises need to increase the fixed assets, liquidity and other assets investment and related production and operating costs; The loss cost of mergers and acquisitions refers to the costs incurred by mergers and acquisitions as a result of the failure of mergers and acquisitions of enterprises. A small amount of which may be directly credited to the current period of operating expenses, and a larger amount to be assessed for a long period of stay.

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