本文在对并购协同效应概念界定的基础上，运用了两种企业价值评估模型对企业并购的协同效应进行了定量分析，并探讨了企业并购决策时应考虑的支付方式问题。
Based on the concept of synergy, this article USES two enterprise valuation models for the synergy's quantitative analysis, and elaborates the way of payment in mergers and acquisitions.
本文认为，企业并购价值识别的内容应当包括“资产型”、“协同效应型”和“实物期权型”价值源以及它们的性质状态。
We have found that the content of the discernment should contain assets type, synergy effect type, real options type source of value and their properties and status.
并购是企业内外部资源融合的过程，是企业提升市场竞争力的重要途径，其竞争力的根源在于资源共享和整合所创造的协同效应。
It's the important approach of improving the market competitive power, which is rooted in the synergistic effect that created by resource share and integration.
协同效应是企业并购的核心内容。
企业并购的主要动机是谋求协同效应，即获取“1+1> 2”的效果。
The mainspring that enterprises merge is to seek the cooperative effect, namely obtain the result of "1+1> 2".
并购中真正的协同效应是通过无形资产的使用来实现的，而知识就是最为重要的隐形资产。
The synergy comes from the usage of immaterial assest, especial the knowledge is the most important assest.
并购中真正的协同效应是通过无形资产的使用来实现的，而知识就是最为重要的隐形资产。
The synergy comes from the usage of immaterial assest, especial the knowledge is the most important assest.
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