编号：
本科毕业设计（论文）
上市公司并购中估值方法的选择
下属学院 法商学院 专 业 会计学 班 级 学 号 姓 名 指导教师 职称
完成日期 201 5 年 1 月 9 日
诚 信 承 诺
我谨在此承诺：本人所写的毕业论文《上市公司并购中估值方法的选择》均系本人独立完成，没有抄袭行为，凡涉及其他作者的观点和材料，均作了注释，若有不实，后果由本人承担。
承诺人（签名）：
年 月 日
I
摘 要
【摘要】在现代经济发展下随着市场环境的完善和参与者观念的改变，以价值发现为基础的并购在中国被逐步接受。在并购的过程中，决定并购是否能够完成的一大因素就是对目标公司价值评估是否准确，这个准确性极大程度上受到评估方法的影响，因此选择合适的评估方法是对目标公司进行价值评估的关键。然而很多企业在并购中因为各式各样的原因对目标企业的价值评估分析的不够准确从而导致并购失败的例子比比皆是。因此,在并购中对目标企业进行合理科学的估值是极其重要的。如何选择一种对目标企业更适合的价值评估方法，提高企业估值结果的准确性成为上市公司亟待解决的重要问题，是决定企业收购成败的关键。
【关键词】并购；估值；上市公司；估值方法
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Abstract
【ABSTRACT】In the modern economic development to improve and change with the concept of market participants in the environment, in order to discover the basis of the value of mergers and acquisitions in China is gradually accepted. In the company's M & A process and accurately assess the value of the target company largely determines whether or not the transaction can be completed, and in the valuation of the target company, the choice of assessment methods is most important, is the valuation of the target company key. However, due to many factors, especially the market analysis of the acquirer's valuation of the target company is not deep enough and thorough defeat led to mergers and acquisitions may make the enterprise into a very difficult situation and even bankruptcy. Therefore, in the acquisition of the target company decision-making scientific and reasonable valuations will be particularly important. How to choose a more suitable target business valuation methods, and improving the accuracy of the results of the valuation of listed companies has become an important problem to be solved is the key to determining the success or failure of corporate acquisitions.
【KEYWORDS】Mergers and acquisitions; valuation; listed companies; valuation methods
III