外文翻譯----企業(yè)并購財務(wù)分析-展示頁
2025-05-27 11:44本頁面
【正文】 ement through effective control of profitable enterprises and increase business value. The desire to control access to the right of the main business by trading access to the other rights owned by the control subjects to redistribution of social resources. Effective control over enterprises in the operation of the market conditions, for most over who are in petition for control of its motives is to seek the pany39。 A market is essentially an alternative organization to realize the internalization of external transactions, as appropriate under the terms of trade, business organizations, the cost may be lower than in the market for the same transaction costs, thereby reducing production and operation the transaction costs. 2. To reduce agency costs. When the business separation of ownership and management, because the interests of corporate management and business owners which resulted in inconsistencies in agency costs, including all contract costs with the agent, the agent monitoring and control costs. Through acquisitions or agency petition, the incumbent managers of target panies will be replaced, which can effectively reduce the agency costs. 3. Lower financing costs. Through mergers and acquisitions, can expand the size of the business, resulting in a mon security role. In general, large panies easier access to capital markets, large quantities they can issue shares or bonds. As the issue of quantity, relatively speaking, stocks or bonds cost will be reduced to enable enterprises to lower capital cost, refinancing. 4. To obtain tax benefits. M amp。 A process involves a lot of financial problems and solve financial problems is the key to successful mergers and acquisitions. Therefore, it appears in merger analysis of the financial problems to improve the efficiency of M amp。M amp。 Financial Analysis Corporate mergers and acquisitions have bee a major form of capital operation. Enterprise use of this mode of operation to achieve the capital cost of the external expansion of production and capital concentration to obtain synergies, enhancing petitiveness, spread business plays a very important role. M amp。 Finance has an important practical significance. A financial effect resulting from mergers and acquisitions 1. Saving transaction costs. M amp。 A business process can make use of deferred tax in terms of a reasonable tax avoidance, but the current loss of business as a profit potential acquisition target, especially when the acquiring pany is highly profitable, can give full play to plementary acquisitions both tax advantage. Since dividend ine, interest ine, operating ine and capital gains tax rate difference between the large mergers and acquisitions take appropriate ways to achieve a reasonable financial deal with the effect of tax avoidance. 5. To increase business value. M amp。s market value and the effective managemen
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