债转股式并购融资中的矩阵分析法

The Method of Martrix Analysis Used in Merger Financing in the Form of Debt to stock

内源融资是公司并购融资的首选,这是由信息不对称条件下公司价值的影响因素决定的。在公司并购中,猎手公司利用拥有的对目标公司的债权资产实施债转股也是并购内源融资的有效方式。从债转股式并购融资的条件出发,构造了债务压力——并购引力矩阵,分析了债务压力——并购引力矩阵在债转股式并购融资中的应用。

Inner-source financing is the prime choice for the company to take through enterprise-merger financing, and this is determined by the effect factor of company value under the condition of asymmetrical information. In the course of enterprise-merger, it is also a effective method of inter-source financing for the hunting company to implement the rum of debt to stock with the debt assets of the objective company it owned. The matrix of debt pressure-merger gravitation is constructed under the condition of merger financing. Its application in merger financing formed as debt to stock is also analyzed in the paper.