本文選題：并購(gòu)　切入點(diǎn)：動(dòng)因分析　出處：《吉林財(cái)經(jīng)大學(xué)》2017年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：如今我國(guó)的社會(huì)主義經(jīng)濟(jì)體制不斷發(fā)展完善,企業(yè)的數(shù)量增多規(guī)模增大,互聯(lián)網(wǎng)行業(yè)之間的競(jìng)爭(zhēng)越來(lái)越大,作為互聯(lián)網(wǎng)企業(yè),如果想要在市場(chǎng)上有立足之地,就必須努力增強(qiáng)自身實(shí)力,而企業(yè)并購(gòu)就是增強(qiáng)企業(yè)實(shí)力、競(jìng)爭(zhēng)力的重要方式之一。2014年6月11日,AL公司以近50億美元的高價(jià)收購(gòu)UC公司,創(chuàng)中國(guó)互聯(lián)網(wǎng)史上最大并購(gòu)案。本文在國(guó)內(nèi)外學(xué)者的研究基礎(chǔ)上,深入分析了AL公司并購(gòu)UC公司的財(cái)務(wù)問(wèn)題。還原了AL公司并購(gòu)UC公司的過(guò)程,介紹了AL公司和UC公司的公司概況并進(jìn)行了動(dòng)因分析,并且分析了并購(gòu)過(guò)程中可能出現(xiàn)的財(cái)務(wù)問(wèn)題,最后進(jìn)行了并購(gòu)后的績(jī)效分析。AL公司并購(gòu)UC公司的案例較為成功,因此對(duì)互聯(lián)網(wǎng)企業(yè)的并購(gòu)具一定借鑒與學(xué)習(xí)的意義。本文以企業(yè)自身的角度對(duì)AL公司并購(gòu)財(cái)務(wù)問(wèn)題形成機(jī)理進(jìn)行分析,按照問(wèn)題識(shí)別、衡量、控制的邏輯框架進(jìn)行研究,在此基礎(chǔ)上對(duì)AL公司并購(gòu)財(cái)務(wù)問(wèn)題進(jìn)行了分析,并對(duì)結(jié)果進(jìn)行了績(jī)效分析。本文的研究?jī)?nèi)容主要為:第一部分是詳細(xì)敘述了本文的研究背景、研究目的及意義,并對(duì)相關(guān)文獻(xiàn)進(jìn)行了整理,闡述了本文的研究思路以及全文的基本框架。第二部分在理論闡述中介紹了并購(gòu)和并購(gòu)中財(cái)務(wù)問(wèn)題的分類(lèi),動(dòng)因分析以及績(jī)效分析中應(yīng)用到的理論。第三部分對(duì)案例情況進(jìn)行了詳細(xì)的介紹,包括公司介紹與并購(gòu)詳細(xì)過(guò)程介紹。第四部分運(yùn)用相關(guān)理論首先討論并購(gòu)動(dòng)因,然后對(duì)AL公司并購(gòu)UC公司存在的財(cái)務(wù)問(wèn)題進(jìn)行分析,主要分析UC公司的各項(xiàng)財(cái)務(wù)指標(biāo)是否符合并購(gòu)條件,以及AL公司是否有能力進(jìn)行并購(gòu)。最后根據(jù)財(cái)務(wù)數(shù)據(jù),對(duì)AL公司并購(gòu)后的財(cái)務(wù)狀況進(jìn)行了績(jī)效分析,以此作為評(píng)價(jià)此次并購(gòu)是否成功的依據(jù)。第五部分是總體的建議與結(jié)論,并對(duì)上文得出的結(jié)果進(jìn)行思考,得出啟示。根據(jù)以上方法,本文章沿著企業(yè)并購(gòu)的整個(gè)過(guò)程依次探討了并購(gòu)中幾個(gè)主要的財(cái)務(wù)問(wèn)題。引入案例研究以驗(yàn)證所提出的理論和方法的適用性。在總結(jié)國(guó)內(nèi)外企業(yè)并購(gòu)理論的基礎(chǔ)之上,分析得出財(cái)務(wù)問(wèn)題是企業(yè)并購(gòu)中的核心問(wèn)題,合理且正確的分析并解決財(cái)務(wù)問(wèn)題是企業(yè)并購(gòu)的一大重點(diǎn)。
[Abstract]:At present, the socialist economic system of our country is constantly developing and improving, the number of enterprises is increasing and the scale of enterprises is increasing, and the competition among the Internet industries is increasing. As Internet enterprises, if they want to have a foothold in the market, We must strive to enhance our own strength, and M & A is one of the most important ways to enhance the strength and competitiveness of our enterprises. In June 11th 2014, our company purchased UC for nearly US $5 billion. On the basis of the research of domestic and foreign scholars, this paper deeply analyzes the financial problems of merger and acquisition of UC company by AL Company, and restores the process of merger and acquisition of UC Company by AL Company. This paper introduces the general situation of AL Company and UC Company, analyzes the causes, and analyzes the possible financial problems in the process of M & A. Finally, the paper analyzes the performance of the merger and acquisition of UC Company. The case of the merger and acquisition of UC Company by AL Company is more successful. Therefore, the M & A of Internet enterprises has a certain reference and learning significance. This paper analyzes the formation mechanism of financial problems of M & A in AL Company from the perspective of enterprises themselves, and studies the logical framework of problem identification, measurement and control. On this basis, the financial problems of merger and acquisition of AL Company are analyzed, and the results are analyzed. The main contents of this paper are as follows: the first part describes the background, purpose and significance of the research in detail. The second part introduces the classification of financial problems in M & A and M & A in theory. The third part introduces the case in detail, including the introduction of company and the detailed process of merger and acquisition. Part 4th uses the relevant theory to discuss the motivation of M & A. Then it analyzes the financial problems existing in the merger and acquisition of UC Company by AL Company, mainly analyzes whether the financial indexes of UC Company meet the requirements of M & A, and whether AL Company is able to conduct M & A. Finally, according to the financial data, This paper analyzes the financial situation of AL Company after merger and acquisition, which is used as the basis for evaluating the success of this merger. 5th part is the overall suggestion and conclusion, and the results obtained above are considered. Draw inspiration. According to the above method, Following the whole process of M & A, this paper discusses several major financial problems in M & A. case study is introduced to verify the applicability of the proposed theory and method. On the basis of summarizing the theory of M & A at home and abroad, It is concluded that financial problems are the core problems in M & A, and a reasonable and correct analysis and solution of financial problems is a major focus of M & A.
【學(xué)位授予單位】：吉林財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類(lèi)號(hào)】：F271;F724.6;F715.5

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