【正文】
A analysis and selection of the same time, also taking into account the market, and management elements that will lead the enterprise39。 A business development and expansion as a means or an inevitable result of market petition, will play an important stage in the socioeconomic role. As an important participant in M amp。 A business operating cash flow to finance significant limitations, the internal financing generally not as the main channel for financing mergers and acquisitions. Of external financing is divided into debt financing, equity financing and hybrid financing. Channels of financing the actual response to determine their capital structure analysis, if the acquisition of their funds sufficient, using its own funds is undoubtedly the best choice。 A financing from the actual situation analysis, M amp。 M financing enterprises in financing before the deal with a variety of M amp。 A target longterm management and enterprise resources, then use the ine approach is suitable. Activities in mergers and acquisitions, M amp。s future earnings are to be predicted, and can predict the basic ine guarantee and the possibility of a reasonable amount。s assessment. Ine approach in principle, that is the reason why the acquirer acquired the target pany, taking into account the target pany can generate revenue for themselves, if the pany39。s priceearnings ratio M, with the target pany39。 A for these items one by one consultations, the two sides, both sides reached an acceptable value of the pany. Mainly applied to the simple acquisition of the book value and market value of the deviation from small nonlisted panies. 2. The market value of parative law. It is the stock market and the target pany39。clock on targeted business Jinxing scientific, objective value of Ping Gu, carefully Xuanze acquisition Duixiang to Shi Zai market petition itself tide in an invincible position. Measure of the value of the target pany, generally adjusted book value method, market value of parative law, priceearnings ratio method, discounted cash flow method, ine approach and other methods. 1. The book value adjustment method. Net balance sheet shall be the pany39。 A prices, so enterprises in M amp。 M price is the cost of an important part of the target