本文關(guān)鍵詞： MN乳業(yè)集團(tuán) 企業(yè)并購(gòu) 比率分析法 經(jīng)濟(jì)后果　出處：《哈爾濱商業(yè)大學(xué)》2017年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：并購(gòu)已經(jīng)逐漸成為企業(yè)擴(kuò)大市場(chǎng)占有率、優(yōu)化資源配置、市場(chǎng)擴(kuò)張的一種手段,隨著市場(chǎng)競(jìng)爭(zhēng)加劇,企業(yè)僅靠自身的資本積累是很難迅速擴(kuò)張的,資本市場(chǎng)日益活躍,越來(lái)越多的企業(yè)選擇并購(gòu)作為集中產(chǎn)業(yè)鏈、整合資源的有效途徑。成功的并購(gòu)活動(dòng),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(jī)效,提升企業(yè)的綜合競(jìng)爭(zhēng)力,實(shí)現(xiàn)企業(yè)的戰(zhàn)略目標(biāo)。隨著國(guó)內(nèi)乳制品需求大幅增加,乳制品消費(fèi)市場(chǎng)進(jìn)一步擴(kuò)大,中國(guó)乳制品行業(yè)發(fā)展迅速,但乳制品安全問(wèn)題層出不窮,國(guó)外各大乳業(yè)品牌蠢蠢欲動(dòng),欲占領(lǐng)中國(guó)消費(fèi)市場(chǎng)。因此整合國(guó)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(shí)產(chǎn)權(quán)、先進(jìn)加工技術(shù)的大型乳制品加工企業(yè),提升國(guó)產(chǎn)乳業(yè)品牌市場(chǎng)份額,加強(qiáng)中國(guó)乳業(yè)品牌國(guó)際競(jìng)爭(zhēng)力,刻不容緩。MN乳業(yè)集團(tuán)作為國(guó)內(nèi)首屈一指的液體奶和乳制品生產(chǎn)銷(xiāo)售企業(yè),提出以"全產(chǎn)業(yè)鏈"模式發(fā)展,在對(duì)并購(gòu)后經(jīng)濟(jì)后果的相關(guān)理論研究進(jìn)行梳理,在協(xié)同效應(yīng)理論、市場(chǎng)勢(shì)力理論分析基礎(chǔ)上,以MN乳業(yè)集團(tuán)并購(gòu)Y企業(yè)為案例研究對(duì)象,研究并購(gòu)后的經(jīng)濟(jì)后果。收集了 MN乳業(yè)集團(tuán)進(jìn)行并購(gòu)活動(dòng)以前及并購(gòu)以后的經(jīng)濟(jì)信息,涉及內(nèi)容包括并購(gòu)前后的財(cái)務(wù)狀況、納稅支出、市場(chǎng)情況、資本結(jié)構(gòu)等,并從并購(gòu)的經(jīng)濟(jì)效益和并購(gòu)存在的經(jīng)營(yíng)風(fēng)險(xiǎn)兩個(gè)方面,采取比率分析法和對(duì)比分析法,從并購(gòu)給MN乳業(yè)集團(tuán)帶來(lái)的經(jīng)濟(jì)效益和并購(gòu)中存在的風(fēng)險(xiǎn)兩個(gè)方面,來(lái)體現(xiàn)并購(gòu)的經(jīng)濟(jì)后果,對(duì)并購(gòu)的經(jīng)濟(jì)后果進(jìn)行了總結(jié),在最后分別闡述了在并購(gòu)目標(biāo)的選擇,資源的配置,并購(gòu)后組織職能的發(fā)揮幾方面的啟示。并針對(duì)調(diào)查的企業(yè)進(jìn)行了一系列考察,用專(zhuān)業(yè)方法進(jìn)行評(píng)價(jià)估計(jì),對(duì)并購(gòu)要承擔(dān)的風(fēng)險(xiǎn)做出了最合理的控制以及并購(gòu)后的資源整合方面提出了防范對(duì)策。希望能夠引起其余并購(gòu)企業(yè)及集團(tuán)的關(guān)注,促使企業(yè)進(jìn)行正確規(guī)劃思路,開(kāi)展并購(gòu),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(shí)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(xué)位授予單位】：哈爾濱商業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F426.82;F271

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