企业并购中的财务风险及其防范

摘要

当前，我们正处于经济全球化和市场经济体制不断完善的形势下。企业要是想发展得持久，就必须得发生企业并购活动。虽说企业并购能够给企业带来经济利益，但做任何事情都是有利也有弊的。企业并购是一种投资活动，投资的过程会伴随着风险。并且风险贯穿于并购活动的全过程，其中最大的风险就是财务风险。所以，我们得关注企业并购的财务风险管理，并且要采取一系列措施来减少财务风险给企业带来的损失。本文主要研究的是企业并购方面的知识，研究的重点有两个：第一是企业在进行并购时会遇到的财务风险；第二是如何应对并购过程中的财务风险。第一版块介绍的是企业并购在国内的现实意义、现实理论、研究的目的以及研究成果；第二版块的是企业并购的定义、动因和意义，以及财务风险的概念；第三版块介绍的是企业在并购时因信息不对称、价格、资金筹集、资金结算、管理等问题而出现的财务风险；也多方面地介绍了这些问题的来源。第四版块介绍的是企业在并购时遇到的财务风险，企业应做怎样的防范对策；最后介绍的是关于我对本文研究企业并购得出的结论。

关键词：企业并购；财务风险；财务风险防范

Abstract

At present, we are in the situation of economic globalization and continuous improvement of market economy system. If an enterprise wants to develop for a long time, it must have M & A activities. Although M & A can bring economic benefits to enterprises, it has advantages and disadvantages to do anything. M & A is a kind of investment activity, the process of investment will be accompanied by risks. And the risk runs through the whole process of M & A, the biggest risk is financial risk. Therefore, we have to pay attention to the financial risk management of M & A, and take a series of measures to reduce the loss of financial risk to enterprises. This paper mainly studies the knowledge of enterprise merger and acquisition, and focuses on two aspects: the first is the financial risk that the enterprise will encounter when it conducts merger and acquisition; the second is how to deal with the financial risk in the process of merger and acquisition. The first section introduces the practical significance, practical theory, research purpose and research results of enterprise merger and acquisition in China; the second section introduces the definition, motivation and significance of enterprise merger and acquisition, as well as the concept of financial risk; the third section introduces the financial risk of enterprise merger and acquisition due to information asymmetry, price, fund raising, fund settlement, management and other issues; It also introduces the sources of these problems in many aspects. The fourth section introduces the financial risks that enterprises encounter in M & A and how to prevent them. The last part is about the conclusion that I got from the study of M & A in this paper.

Key words: enterprise merger and acquisition; financial risk; financial risk prevention

目录

摘要 I

Abstract II

第一章 绪论 1

1.1 研究的背景及目的 1

1.2 国内国外研究状况 1

第二章 企业并购及财务风险的概述 2

2.1 企业并购的概念 2

2.2企业并购的动因 3

2.3企业并购的类型 3

2.4企业并购的意义 4

2.5企业并购财务风险的定义 4

第三章 企业并购的财务风险及起因分析 4

3.1企业并购前的财务风险 4

3.2企业并购中的财务风险 5

3.3企业并购后的财务风险 6

第四章 企业并购财务风险的原因 7

4.1收购企业管理者目标不明朗 7

4.2单一的融资渠道，融资方式不合理 7

4.3 企业价值评估体系不完善 7

4.4 企业信息不对称 7

4.5 企业支付方式的不当 7

4.6 财务制度建设不完善 8

第五章 企业并购财务风险的防范措施 8

5.1 企业并购前财务风险防范对策 8

5.2 企业并购中财务风险的防范措施 9

5.3 企业并购后的财务风险的防范措施 10

结论 11

参考文献 12