摘 要:近年來，全球范圍內的并購浪潮一波接著一波，西方國家的并購市場已經發展到了一個很成熟的階段，而中國作為一個經濟高速發展的國家，它的并購浪潮也正在興起。隨著經濟的發展，并購變得越來越重要，它是一種有效的使得資源配置更加優化的手段。而在這過程之中，則不得不提到股權分置改革，它對我國的并購市場有著非常重要的意義。股權分置改革的成功，掃清了股東們對于所持股票權利的不統一的障礙，使得并購更加地公平公正，且有理可依。而其中的換股并購由于它本身的優勢，必將成為一種主要的并購形式，成為一種主要的融資手段。所以在此時，對于我國上市公司的換股并購進行研究分析是很有必要的，我們要針對其中存在問題提出相關的建議。

　　　本文是先從理論出發，先對其進行分析，進而再聯系實際的案例進行論述，使得文章有理有據。文章首先對換股并購這一概念進行了定義，接著簡要地闡述了換股并購的優缺點；緊接著對換股比率的確定方法以及會計處理方法做了論述；在這之后，對實行換股并購的內外部環境作了些許的闡述；然后，就換股并購中存在的問題以及各個部分的影響作了一些論述；最后引用了2012年優酷換股并購土豆的案例，結合案例對我國換股并購進行了分析，并得出了相關啟示。

關鍵詞：換股并購；換股比率；會計核算方法；問題；影響

ABSTRACT:In recent years, the global wave of mergers and acquisitions is becoming more and more popular. Western countries’ market of mergers and acquisitions is mature.While China with a rapid development at economy, its wave of mergers and acquisitions is also on the rise. With the development of the economy, mergers and acquisitions is becoming more and more important. It is a kind of effective means of making resource allocation more optimized.As a means of optimization of effective resource allocation, mergers and acquisitions in the process of our economic development play an increasingly important role. The split-share reform is of great importance in our country's capital market.The success of the split-share reform cleared the stocks held by the skimble-scamble rights of the shareholders, making mergers and acquisitions more fair and rational. Due to the advantages of stock-to-stock mergers and acquisitions,it will become a main component of mergers and acquisitions, a main means of financing. At this point, that we make analysis in depth, and find the problems in mergers and acquisitions, then put forward the corresponding Suggestions has important theoretical significance and practical significance.

　　　This article is in accordance with the first theoretical analysis to the concrete practice, which wants to achieve the reasonable combination of both. First of all, the paper is starting from the definition of mergers and acquisitions, then talk about the advantages and disadvantages. Following is the proportion of mergers and acquisitions as well as the accounting methods of it. After that, it is about the internal and external environment of the mergers and acquisitions. Then, the topic is about problems of mergers and acquisitions and the influence of each part. At last, the paper quotes the typical case to talk about the mergers and acquisitions, and raises suggestions.

Keywords: Mergers and acquisitions; ratio of mergers and acquisitions; accounting method; problem; influence