中文摘要：

企业并购的根本动机是为了获得协同效应,但协同效应能否实现、其价值如何估计则是困惑评估理论界和实务界的难题。回顾国内外已有的协同效应价值评估模型,将协同效应价值分解为静态协同效应价值和动态协同效应价值,创新地构建协同效应价值的综合评估模型。

英文摘要：

The fundamental motivation of enterprise merger is to obtain synergy effects, but whether it can be achieved and how to value it is a problem on the circles of theory and Practice. After reviewing of the domestic and foreign existing evaluation models of the synergistic effects, the synergy values can be divided into static and dynamic synergistic value, this paper innova- tively construct a comprehensive evaluation model for the value of synergistic effects.