企业并购中的财务风险分析与防范对策

 2023-01-29 01:01

论文总字数:18629字

摘 要

随着我国经济高速发展,并购已成为当前企业实现快速扩张策略来增加它的竞争力,企业并购的相关研究已成为财务管理的重要内容之一。企业并购能够使企业快速的取得竞争优势,向上发展的重要措施。在经济全球化的主要背景下,并购活动的频率越来越高,已经成为企业为谋求发展而采取的重要手段之一。企业想要得到可持续发展,最好的方式就是并购。企业并购伴随着高风险与高收益,在众多风险中,财务风险是至关重要的风险,谋求财务协同效应是企业并购的出发点,也是可以直接影响整个并购的结果的因素。财务方面的问题几乎贯穿了企业并购的全过程。在企业并购的过程中,受经济环境的变化、市场竞争的影响,再加上企业在结构、产业上的差异,企业就有很大可能会面临较大的财务风险。所有财务活动都容易引发财务风险,如果不能正确解决并购中出现的财务风险,会很大程度的带给企业经济损失。因此,财务风险将直接影响企业并购活动。所有的并购企业在并购过程中都需要充分考虑这一因素。之前就发生过很多的并购案例,就是因为一些企业忽视了并购中的财务风险,而导致最终失败。因此,本文通过对近年来我国企业并购财务风险成因,提供了防范措施,对企业并购具有重要的现实意义。

关键词:并购;财务风险;防范措施;案例研究

Financial risk analysis and preventive measures in enterprise merger and acquisition —— taking Meituan merger and acquisition of dianping as an example

Abstract

With the rapid development of China"s economy, merger and acquisition has become the current enterprise to achieve rapid expansion strategy to increase its competitiveness, merger and acquisition of enterprises has become an important part of financial management research. Mamp;a is an important measure for enterprises to gain competitive advantage and sustainable development. Under the background of economic globalization, merger and acquisition activities become more and more frequent and become an important means of enterprise development. The best way for enterprises to achieve sustainable development is merger and acquisition. Mergers and acquisitions are associated with high risks and high returns. Among many risks, financial risk is the most important. Seeking for financial synergies is the starting point of mergers and acquisitions and also a factor that can directly affect the results of the whole merger and acquisition. Financial problems almost run through the whole process of enterprise merger and acquisition. In the process of enterprise merger and acquisition, due to the change of economic environment, the impact of market competition, plus the structure of enterprises, industrial differences, enterprises are likely to face greater financial risks. All financial activities are easy to cause financial risks. If the financial risks arising from merger and acquisition cannot be properly solved, it will bring economic losses to enterprises to a large extent. Therefore, financial risk will directly affect enterprise merger and acquisition activities. All mamp;a enterprises need to take this factor into full consideration in the process of mamp;a. Many of the previous M amp; A failed because there were companies that ignored the financial risk of M amp; A.Therefore, this article through to our country enterprise merger and acquisition financial risk genesis in recent years, has provided the preventive measure, has the important practical significance to the enterprise merger and acquisition.

Keyword:Mergers and acquisitions. Financial risk; Preventive measures; A case study

目录

摘 要 I

Abstract II

第一章 绪论 1

1.1 研究背景及意义 1

1.1.1研究背景 1

1.1.2研究意义 1

1.2国内外研究现状 1

1.2.1国外研究状况 1

1.2.2国内研究状况 1

1.3.研究思路 2

1.3.1研究内容 2

1.3.2研究方法 2

1.3.3全文结构框架 3

第二章 企业并购及财务风险的含义 4

2.1企业并购的含义 4

2.2财务风险的含义 4

第三章 产生财务风险的原因及防范措施 5

3.1并购的过程 5

3.2产生财务风险的原因 5

3.2.1企业并购的信息不对称 5

3.2.2企业并购所处的环境的影响 5

3.2.3并购企业的融资方式和支付方式不当 5

3.3对财务风险的防范措施 6

3.3.1充分了解并购企业的信息,正确评估企业价值 6

3.3.2遵守政府经济政策并了解目标企业所在国的政策法规 6

3.3.3正确选择支付方式,选择合适的交易类型 7

第四章 大众点评并购美团的案例分析 8

4.1并购背景 8

4.2并购动因 8

4.2.1基于经营协同效应 8

4.2.2基于市场结构 8

4.2.3基于财务协同 9

4.3并购类型及方式 10

4.4并购中出现的财务风险及防范措施 10

4.4.1估值风险 10

4.4.2融资风险 10

4.4.3因估值产生的财务风险的防范措施 10

4.4.4因融资产生的财务风险的防范措施 10

第五章 结论及建议 12

致谢 13

参考文献 14

剩余内容已隐藏,请支付后下载全文,论文总字数:18629字

您需要先支付 80元 才能查看全部内容!立即支付

该课题毕业论文、开题报告、外文翻译、程序设计、图纸设计等资料可联系客服协助查找;