换股并购

换股并购在企业资产重组中的应用研究

Study on Convertible M & A in Enterprises ' Asset Restructuring

换股并购的会计政策选择研究

Study on the Choice of Accounting Policies for Stock-Exchange Combinations

换股并购方式下换股比率的确定

The Confirmation of Stock - exchanging Ratios under the Way of Mergence

现金并购定价分析最后，对并购交易价格按现金并购和换股并购两种方式进行研究。

An Analysis on Cash Merging Pricing Finally , the two types of transaction value are researched .

跨境换股并购因其特有优势已在国际上被广泛采用。

Cross-border merger & acquisition by way of share swap with its unique advantages has been broadly adopted in the world .

其次，阐述了并购和换股并购的定义及并购的理论基础。

Secondly , this paper expounds the merger and acquisition change of the definition and the theoretical foundation of the merger .

并使用理论与案例相结合，研究企业进行换股并购的真正原因并找出问题。

And using the theories and cases , combining research the real cause of the enterprises to change the merger and find out the problems .

本文第二章从上述三个方面找出针对跨境换股并购的相关问题。

In Chapter 2 , it is to find out problems relevant to cross-border merger & acquisition by way of share swap from the above mentioned three aspects .

而由于股权分割，换股并购在中国也缺乏现实的操作基础。

Furthermore , merger and acquisition by means of the exchange of shares also lacks operational basis in reality in China because of the segregation of stock ownership .

整篇文章理论与实际相结合，互相印证，以期总结出换股并购的一般原因并以此来提出问题。

The whole article uses theory and practice , so as to summarize a change of the common causes of M & A and use that to ask questions .

随着全球第五次并购浪潮的迅猛发展，换股并购因其无可比拟的优势已成为企业大规模战略性并购的主要方式。

With the rapid development of the fifth global M A , Stock for stock M A has become major ways of strategic M A since it has uncomparable advantage .

在换股并购方式下，换股比率的高低，直接影响到并购双方的股东在并购之后的主体中所拥有的权益份额。

Under the condition of Stock - exchanging M & A , exchange ratio has a direct effect on the equity shares of the stockholders of both parties in the future body .

并购是企业实现资源优化配置、改善经营管理、提高经济效益的有效途径之一，换股并购是未来我国企业重要的并购方式。

M A is a good way to achieve optimized resources , improve manage level and economic efficiency . Stock-exchange is an important way of M A in our country in future .

该部分在对国内外支付方式进行比较的基础上，重点对可供我国借鉴的并购支付方式，特别是对换股并购与递延支付收购等作了详细地介绍和分析。

The part firstly compare different payment modes , and then provide a thorough introduction and analysis to these payment modes from which we can learn such as stock-changing annexation and deferred payment purchase .

但在我国经济体制从计划经济向市场经济转变的过程中，基于资本市场的换股并购对公司市值效应、业绩效应的研究相对甚少。

But in the process from planed economy to market economy in China economic system , the studies on stock price effect and performance effect of stock exchange M & A is relatively little .

其中，根据资产重组中的换股并购理论及其模式，时运用案例来分析换股并购的问题和意义是本文研究的主要目的。

Among them according to the exchange of assets reorganization merger and acquisition theory and model case to analyze the problems and significance in m & a is the main purpose of this article research .

在股改背景下，换股并购开始扮演多重角色，传统的换股比例确定方法出现创新。

So it is one of the key factors for the success of M A. In shares-changed context , while the stock exchange M A played multiple roles , the methods of exchange ratio have been innovated .

愈演愈烈的并购浪潮带来了换股并购的繁荣，随着我国资本市场的成熟和完善，换股并购必将成为战略性并购的重要形式。

The intense growing of M & A spurs on the combinations by stock exchange . Along with the mature and perfect of internal market , Combinations by stock exchange will become an important strategic combinations form .

最后，本文从换股并购的基本理论出发，在对上述理论研究进行综述的基础上展开对换股并购的分析。

Finally , this paper , from the change of the basic theory of mergers and acquisitions in the theory are reviewed in this paper on the basis of the analysis of the exchange of mergers and acquisitions .

本研究对寻求换股并购的原因和并购过程中存在的问题，完善相关法规政策，推进换股并购在我国的运用具有一定的理论和实践意义。

This study has certain theoretical and practical significance in seeking change of mergers and acquisitions and mergers reason for the problems in the process of and perfect the relevant law and policy , promoting change in the use of our country merger .

采用了定量定性分析的方法，并且将基础理论与实际案例相结合，运用数学模型推导、图形以及表格等方式，系统地研究了换股并购相关理论和方法的运用。

For the sake of presenting a systematic study of the utilization of both the theories and techniques on Convertible M & A , I use quantitative analysis methods , qualitative analysis methods , basic theories combined with cases , mathematical models , graphs , tables etc in this article .

现金交易将会非常稀少，而企业整合中的换股交易可能成为并购活动的主要来源。

Cash transactions will be rare – stock for stock transactions in consolidating industries are likely to emerge as the main sources of activity .