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本文选择非上市中小企业并购作为研究对象,利用多元回归方法分析非上市中小企业并购定价的影响因素,结果表明:目标企业的员工平均营业收入与并购定价正相关,无形资产占比与并购定价正相关,这充分证明了人力资本的贡献和无形资产等非有形资产在中小企业并购定价中发挥的重要作用。
This paper chooses M & A of non-listed SMEs as the research object, and uses multivariate regression analysis to analyze the influencing factors of the M & A pricing of non-listed SMEs. The results show that the average operating income of the target enterprises is positively related to M & A pricing, and the proportion of intangible assets and M & This fully proves the contribution of human capital and the important role played by non-physical assets such as intangible assets in M & A pricing of SMEs.