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M&A の発生による企業時価総額の分析
https://doi.org/10.15066/00000558
https://doi.org/10.15066/000005585ce524c9-bdc9-4389-99de-80f715f20c77
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
kei3 (1.1 MB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2020-03-31 | |||||
| タイトル | ||||||
| タイトル | M&A の発生による企業時価総額の分析 | |||||
| タイトル | ||||||
| タイトル | Analysis of the impact of M&A to the company's market capitalization | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | jpn | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | M&A | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Corporate market capitalization | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Modified purchase method | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
| 資源タイプ | departmental bulletin paper | |||||
| ID登録 | ||||||
| ID登録 | 10.15066/00000558 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
森田, 聡
× 森田, 聡× Morita, Satoshi |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | In this study I used the case of the Mitsubishi UFJ Group to analysis the difference of profits in the financial statements between the equity pooling method and the purchase method. During the business combination Mitsubishi UFJ Financial Group, prepared two types of financial statements based on Japanese GAAP (equity pooling method) and US GAAP (purchase method).There is a clear differences in market capitalization resulting from different accounting method. I also proposed to evaluate all assets at market prices as a modified purchase method and suppose to use the change in market capitalization in one accounting period to represent the modified purchase method profit. Using market price makes the modified purchase method is a theory in which financial information after a business combination is complete and does not cost because the past does not disappear. Analyzing 125 business combinations announced in 2017, the change in market capitalization in one accounting period was 1.84 times the purchase method profit in total. And more than 70% of the cases where the modified purchase method profit exceeds the purchase method profit. It proved that revaluation at market prices can be expected to have a significant impact on profits. In addition, it can be said that it is obvious that the existing purchase method does not faithfully represent the economic substance only by performing market value evaluation on one side. The conventional unreasonable theory that book value and market value are mixed in one financial statement does not represent an economic substance and is not suitable for current business combination accounting. |
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| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 〔査読有り〕の原著論文 M＆A前の時価総額が、 M＆A後の純資産額との比較において大きいということが明らかになった。この影響で現在では昔より時価と簿価の差がより一層開いたことが明らかになった。これにより時価を反映する修正パーチェス法を採用することが適当と思われる。 |
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| 書誌情報 |
北陸大学紀要 en : Bulletin of Hokuriku University 号 48, p. 43-64, 発行日 2020-03-31 |
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| 出版者 | ||||||
| 出版者 | 北陸大学 | |||||
| ISSN | ||||||
| 収録物識別子タイプ | ISSN | |||||
| 収録物識別子 | 21863989 | |||||
