本文關鍵詞： MN乳業(yè)集團 企業(yè)并購 比率分析法 經(jīng)濟后果　出處：《哈爾濱商業(yè)大學》2017年碩士論文　論文類型：學位論文

【摘要】：并購已經(jīng)逐漸成為企業(yè)擴大市場占有率、優(yōu)化資源配置、市場擴張的一種手段,隨著市場競爭加劇,企業(yè)僅靠自身的資本積累是很難迅速擴張的,資本市場日益活躍,越來越多的企業(yè)選擇并購作為集中產(chǎn)業(yè)鏈、整合資源的有效途徑。成功的并購活動,可以整合企業(yè)資源,調(diào)整企業(yè)產(chǎn)業(yè)結(jié)構(gòu),改善企業(yè)的績效,提升企業(yè)的綜合競爭力,實現(xiàn)企業(yè)的戰(zhàn)略目標。隨著國內(nèi)乳制品需求大幅增加,乳制品消費市場進一步擴大,中國乳制品行業(yè)發(fā)展迅速,但乳制品安全問題層出不窮,國外各大乳業(yè)品牌蠢蠢欲動,欲占領中國消費市場。因此整合國內(nèi)"雜而亂"的小型乳制品生產(chǎn)企業(yè),提升產(chǎn)業(yè)集中度,形成擁有自主知識產(chǎn)權、先進加工技術的大型乳制品加工企業(yè),提升國產(chǎn)乳業(yè)品牌市場份額,加強中國乳業(yè)品牌國際競爭力,刻不容緩。MN乳業(yè)集團作為國內(nèi)首屈一指的液體奶和乳制品生產(chǎn)銷售企業(yè),提出以"全產(chǎn)業(yè)鏈"模式發(fā)展,在對并購后經(jīng)濟后果的相關理論研究進行梳理,在協(xié)同效應理論、市場勢力理論分析基礎上,以MN乳業(yè)集團并購Y企業(yè)為案例研究對象,研究并購后的經(jīng)濟后果。收集了 MN乳業(yè)集團進行并購活動以前及并購以后的經(jīng)濟信息,涉及內(nèi)容包括并購前后的財務狀況、納稅支出、市場情況、資本結(jié)構(gòu)等,并從并購的經(jīng)濟效益和并購存在的經(jīng)營風險兩個方面,采取比率分析法和對比分析法,從并購給MN乳業(yè)集團帶來的經(jīng)濟效益和并購中存在的風險兩個方面,來體現(xiàn)并購的經(jīng)濟后果,對并購的經(jīng)濟后果進行了總結(jié),在最后分別闡述了在并購目標的選擇,資源的配置,并購后組織職能的發(fā)揮幾方面的啟示。并針對調(diào)查的企業(yè)進行了一系列考察,用專業(yè)方法進行評價估計,對并購要承擔的風險做出了最合理的控制以及并購后的資源整合方面提出了防范對策。希望能夠引起其余并購企業(yè)及集團的關注,促使企業(yè)進行正確規(guī)劃思路,開展并購,并在生產(chǎn)規(guī)模以及產(chǎn)業(yè)布局方面做到合理配置,以此實現(xiàn)民族企業(yè)的更好更快發(fā)展。
[Abstract]:M & A has gradually become a means for enterprises to expand their market share, optimize resource allocation and market expansion. With the intensification of market competition, it is difficult for enterprises to expand rapidly only by their own capital accumulation. As the capital market becomes more and more active, more and more enterprises choose M & A as an effective way to concentrate industrial chain and integrate resources. Successful M & A activities can integrate enterprise resources and adjust the industrial structure of enterprises. Improve the performance of enterprises, enhance the comprehensive competitiveness of enterprises, achieve the strategic objectives of enterprises. With the domestic demand for dairy products increased substantially, the dairy products consumer market further expanded, the dairy industry in China has developed rapidly. However, dairy safety problems emerge in endlessly, foreign dairy brands are ready to occupy the Chinese consumer market. Therefore, the integration of domestic "miscellaneous and chaotic" small dairy production enterprises, to enhance industrial concentration. To form large dairy processing enterprises with independent intellectual property rights and advanced processing technology to enhance the market share of domestic dairy brands and strengthen the international competitiveness of Chinese dairy brands. MN Dairy Group as the leading domestic liquid milk and dairy products production and marketing enterprises, put forward to the "whole industry chain" model development, in the merger and acquisition of the economic consequences of the relevant theoretical research carding. On the basis of synergetic effect theory and market power theory, this paper takes M & A of MN Dairy Group as the case study object. Research the economic consequences after M & A. collect the economic information of MN Dairy Group before and after M & A, including the financial situation, tax expenditure, market situation before and after M & A. Capital structure and so on, and from the economic benefits of M & A and M & A business risk two aspects, using the ratio analysis and comparative analysis. From the two aspects of economic benefits and risks of M & A to MN Dairy Group, the economic consequences of M & A are reflected, and the economic consequences of M & A are summarized. At the end of the paper, the author expounds the enlightenment of the choice of M & A target, the allocation of resources and the exertion of organizational function after M & A. and carries on a series of investigation to the investigated enterprises, and carries on the appraisal and estimation with the professional method. The author makes the most reasonable control to the risk of M & A and puts forward the preventive countermeasures in the aspect of resource integration after M & A, hoping to arouse the attention of the other M & A enterprises and groups, and urge the enterprises to carry on the correct planning thinking. In order to achieve better and faster development of national enterprises, M & A is carried out, and rational allocation of production scale and industrial layout is achieved.
【學位授予單位】：哈爾濱商業(yè)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F426.82;F271

【參考文獻】

相關期刊論文 前10條

1 張桂華;;企業(yè)并購風險及其防范研究[J];財經(jīng)界(學術版);2016年15期

2 劉炳茹;吳君民;;企業(yè)跨國并購財務風險管理與控制[J];財會通訊;2016年20期

3 侯林芳;;企業(yè)跨國并購財務風險評估與控制研究——以三一重工并購普茨邁斯特為例[J];會計之友;2016年13期

4 董峰;;上市公司縱向并購風險管理效應的實證[J];統(tǒng)計與決策;2016年11期

5 王斌;王樂錦;;縱向一體化、行業(yè)異質(zhì)性與企業(yè)盈利能力——基于中加澳林工上市公司的比較分析[J];會計研究;2016年04期

6 葛結(jié)根;;并購支付方式與并購績效的實證研究——以滬深上市公司為收購目標的經(jīng)驗證據(jù)[J];會計研究;2015年09期

7 陳海聲;馮素晶;;產(chǎn)權性質(zhì)、企業(yè)稅負與并購績效[J];財會通訊;2015年18期

8 王雅婷;李恩平;;企業(yè)跨國并購績效評價及整合分析——以TCL集團為例[J];財會通訊;2015年04期

9 羅敏;;基于核心競爭力思維的企業(yè)并購財務風險防控探究[J];財會通訊;2015年02期

10 陳傳興;徐穎;;跨國并購企業(yè)財務風險及其應對策略[J];國際經(jīng)濟合作;2014年11期

，

本文編號：1459490