我国企业跨国并购财务风险的成因及防范研究

论文编号:CW152  论文字数:13992,页数:20

我国企业跨国并购财务风险的成因及防范研究
 摘     要
 随着经济全球化进程的加速以及中国企业规模的不断扩大，越来越多的中国企业开始把跨国并购作为对外直接投资、开拓国际市场的新策略。跨国并购有助于企业在全球范围内优化资源配置，调整市场结构，集中生产要素，提高企业的规模和市场竞争力，但与此同时，跨国并购也隐藏着许多风险：政治风险、文化风险、法律风险、财务风险等，其中财务风险是各种并购风险在价值量上的综合反映，影响着企业并购成功与否。
 本文从中国企业跨国并购这一角度出发，针对财务风险问题进行了研究。首先分析中国企业跨国并购财务风险的现状及存在问题，然后详细剖析了导致企业跨国并购财务风险的主要原因，最后提出了加强财务风险的有关对策及建议，如明确企业并购动机，制定合理并购战略等。
 
关键词：跨国并购；财务风险；现状；对策
 
论文类型：应用型 
  Study on the Situation and Control of Financial Risk of Chinese Enterprises' Cross-border M&As
 ABSTRACT
 With the acceleration of the economic globalization and the Chinese enterprises' scale growth, Chinese enterprises are starting to take cross-border M&As to increase foreign direct investment and develop new strategies in international markets. Cross-border M&As can help enterprises globally optimize the allocation of resources, adjust the market structure, concentration of production factors, improve the size of the business and market competitiveness. But at the same time, cross-border M&As also have many hidden risks: political risk, cultural risk, legal risk, financial risk and so on. The financial risk is the risk of a variety of M&As on the value of the General reflected. It is very important for M&As success.
 The paper has study the financial risk during M&As of Chinese enterprises. At first, the paper has explained the current situation. Then, analyed the main the problem of the financial risk during M&As of Chinese enterprises. Finally, in order to effective control and manage the financial crises, acrodding the causes of financial risks, the paper has put forward some countermeasures, such as confirming merge motive, laying down reasonable stratece and so on.
 
Key Words: Cross-border Merger; Financial Risk; Current Situation; Countermeasures
 
Type of Thesis: Applied Type

目   录
1 绪论 1
1.1 研究背景 1
1.2 研究方法 1
1.3 研究目的及意义 1
1.4 跨国并购财务风险国内外研究现状 2
1.4.1 国外研究现状 2
1.4.2 国内研究现状 2
2 我国企业跨国并购财务风险的理论研究 3
2.1 跨国并购财务风险的定义 3
2.2 企业跨国并购财务风险的成因 3
2.2.1 跨国并购过程的不确定性 3
2.2.2 信息不对称性 4
3 我国企业跨国并购财务风险的现状 5
3.1 数量逐步增加，规模逐步扩大 5
3.2 银行信贷集中交易分部行业特征明显 5
3.3 业绩表现欠佳 6
3.4 并购主体逐渐增加 6
4 我国企业跨国并购财务风险存在的问题 8
4.1 正确选择目标企业难度较大 8
4.2 企业跨国并购经营成功率较低 8
4.3 融资问题突出 9
4.4 整合问题不容忽视 9
5  加强我国企业跨国并购财务风险防范的对策和建议 11
5.1 明确企业并购动机制定合理并购战略 11
5.2 充分获得目标企业的信息 12
5.3 提高目标企业价值评估的准确性 12
5.4 建立健全财务风险预测和监控体系 13
5.5 加强跨国并购的筹资管理 13
5.6 改善企业融资状况 13
6  结束语 15
参考文献 16
致谢 17