Scientific journal NRU ITMO
Series "Economics and Environmental Management"
Registration certificate ЭЛ № ФС 77 – 55411 от 17.09.2013
registered by the Federal Inspectorate Service for Communication, Information Technologies and Communication Media

December 2014 (published: 09.12.2014)

Number 4(19)

Home > Issue > Mergers and acquisitions in the creation and growth in value Organization of corporate entrepreneurship

UDC 334.758

Mergers and acquisitions in the creation and growth in value Organization of corporate entrepreneurship

Kovalenko B.B. , Savushkin A.A.

The article presents the results of an analysis of modern concepts and the concepts of "merger" and "absorption" of companies. We analyze the composition factors positively and negatively affects the process of creating value and growth companies in the process of mergers and acquisitions. Attention of the authors focused on a comparative analysis of the content of the process of mergers and acquisitions on the criteria: the result of the transaction, the size of the companies, the goal of shareholders, decisions about the transaction. It is recognized that the need to address the problems of process management to maximize the value of continuing relevance. The authors believe that the greatest interest for the analysis of the cost of the two forms of manifestation of this category: the value of the company and the equity value of the company. Analyzes the sources of growth of cost companies: formed through the acquisition of the assets and of the synergistic effect. It is noted that the cost factors could have on the business impact of contradictory and ambiguous: both positive and negative. According to the authors, this is a consequence of the dual result of mergers and acquisitions business. On the one hand - the emergence and growth of the value in the synergy derived from mergers and acquisitions. From another. - Reallocation of previously created value, in favor of one side over another. If you do not look for ways to solve this problem, there is a risk of loss of term and future value. This while situation can be resolved by using both administrative and economic measures proposed by the authors.
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Keywords: control of companies, mergers, takeovers, acquisitions, restructuring of business, cost companies privedennnaya cost, value growth, cost factors, synergy.

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