Notice of RetractionStudies on relations of assets appraisal results in mergers and acquisition of China´s listed companies

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Based on the data of the appraisal reports of China´s listed companies from 2009 to 2010, this paper investigates into the relationships of appraisal results in mergers & acquisition, empirically analyzing the effects of assets replacement, related transactions and independence of appraisal agencies on appraisal results. Descriptive statistical analysis and non-parametric test on samples valuated by two appraisal approaches simultaneously indicate that mergers & acquisition are mostly based on cost approach, that income approach is always employed as a test method, and that there are great differences between result approaches and test approaches. In the end comes the policy suggestions based on our studies, that it is the right time enhanced the system construction of the application of assets appraisal in mergers & acquisition of listed companies.