并购中目标企业价值评估方法的选择

随着市场经济的发展，企业之间的兼并和购买行为已经十分普遍。并购不仅仅是企业实现组织调整、产权重组、产品结构调整的重要方式，更是实现生产资源在全社会范围内有效配置的手段。并购涉及的内容很多，诸如并购的动机、并购的战略、并购中的会计处理和融资问题等等，但中心问题还是目标企业的价值评估。本文的主要讨论了各种主流的价值评估方法，并比较其优劣和适用条件，最后分析得出关于企业应该如何选择最优的评估方法的结论。

The Choice of Methods of Value Appraisal in M&A

With the development of market economy, Mergers ＆ Acquisitions in modern economy are very common. M＆A are not only an important way to adjust enterprise＇s organization and property reorganization and product structure adjustment, but also an means to＇realize efficient allocation of resources in the whole society. There are many aspects about M＆A, such as the motive of M＆A, the strategy of M＆A, accounting treatment and capital raising, etc. But value appraisal is the core problem. This article discusses some popular methods about value appraisal, and further more, give research on benefits and drawbacks as well as the application conditions of these methods. At last, we made some conclusions on how to choose the mosf reasonable value appraisal.