本文選題：石油企業(yè) + 跨國(guó)并購(gòu)　； 參考：《哈爾濱理工大學(xué)》2013年碩士論文

【摘要】：中國(guó)已成為僅次于美國(guó)的第二大石油消費(fèi)國(guó)。據(jù)中國(guó)能源信息網(wǎng)數(shù)據(jù)顯示,2011年原油消費(fèi)已突破3億噸,且我國(guó)石油對(duì)外依存率高達(dá)55%。估計(jì)到2050年,我國(guó)石油供需缺口將達(dá)到3～3.5億噸。因此,中國(guó)石油企業(yè)實(shí)施國(guó)際化經(jīng)營(yíng)已成必然選擇。由于我國(guó)石油企業(yè)“走出去”比較晚,在跨國(guó)并購(gòu)風(fēng)險(xiǎn)認(rèn)識(shí)上缺少經(jīng)驗(yàn)。況且石油企業(yè)的跨國(guó)并購(gòu)將面臨能源問(wèn)題的政治敏感性,資本投入大,信息不對(duì)稱(chēng),環(huán)保要求等等諸多因素的影響,具有很高的風(fēng)險(xiǎn)性。因此,我國(guó)石油企業(yè)想要在以后的跨國(guó)并購(gòu)中減少失敗,就必須對(duì)并購(gòu)項(xiàng)目進(jìn)行準(zhǔn)確的風(fēng)險(xiǎn)評(píng)價(jià)。 本文首先從企業(yè)并購(gòu),企業(yè)跨國(guó)并購(gòu),石油企業(yè)跨國(guó)并購(gòu)等三方面介紹了國(guó)內(nèi)外風(fēng)險(xiǎn)評(píng)價(jià)研究的研究理論。接著中國(guó)三大石油公司的跨國(guó)并購(gòu)歷史沿革以及近十年跨國(guó)并購(gòu)成功和失敗案例進(jìn)行分析研究。利用德?tīng)柗谱R(shí)別法識(shí)別出中國(guó)石油跨國(guó)并購(gòu)風(fēng)險(xiǎn)因素,再運(yùn)用層次分析法和灰色綜合評(píng)價(jià)法,建立了風(fēng)險(xiǎn)評(píng)估模型：灰色多層次評(píng)估模型。利用評(píng)估模型對(duì)風(fēng)險(xiǎn)因素進(jìn)行風(fēng)險(xiǎn)評(píng)估,風(fēng)險(xiǎn)評(píng)估結(jié)果表明,外部環(huán)境風(fēng)險(xiǎn)是此項(xiàng)目最主要的風(fēng)險(xiǎn),其次是決策階段風(fēng)險(xiǎn),實(shí)施階段風(fēng)險(xiǎn),整合風(fēng)險(xiǎn)。其中政治風(fēng)險(xiǎn)是外部環(huán)境風(fēng)險(xiǎn)中最主要的風(fēng)險(xiǎn)因素,決策失誤風(fēng)險(xiǎn)是決策階段風(fēng)險(xiǎn)中的重點(diǎn)因素,融資風(fēng)險(xiǎn)是實(shí)施階段風(fēng)險(xiǎn)比較重要,經(jīng)營(yíng)整合風(fēng)險(xiǎn)是整合階段風(fēng)險(xiǎn)中的重點(diǎn)防范因素。根據(jù)風(fēng)險(xiǎn)評(píng)估結(jié)果提出針對(duì)13項(xiàng)風(fēng)險(xiǎn)因素的風(fēng)險(xiǎn)處置策略和風(fēng)險(xiǎn)控制策略。
[Abstract]:China has become the second largest oil consumer after the United States. According to China Energy Information Network, crude oil consumption exceeded 300 million tons in 2011, and China's oil dependence rate reached 55 percent. It is estimated that by 2050, China's oil supply and demand gap will reach 3 to 350 million tons. Therefore, the implementation of international management of Chinese oil enterprises has become an inevitable choice. Because our country petroleum enterprise "go out" relatively late, in cross-border merger and acquisition risk cognition lack of experience. Moreover, transnational mergers and acquisitions of oil enterprises will face the political sensitivity of energy problems, large capital investment, asymmetric information, environmental protection requirements and many other factors, which have a high risk. Therefore, in order to reduce the failure in the future cross-border mergers and acquisitions, the petroleum enterprises of our country must carry on the accurate risk evaluation to the M & A project. First, this article starts with the enterprise M & A, the enterprise transnational M & A, This paper introduces the research theory of risk evaluation at home and abroad from three aspects: transnational M & A of petroleum enterprises. Then, the history of transnational M & A and the successful and failed cases of cross-border M & A in recent ten years are analyzed and studied. The risk factors of cross-border M & A of PetroChina were identified by Delphi identification method, and then the risk assessment model: grey multi-level evaluation model was established by using AHP and grey comprehensive evaluation method. The risk assessment results show that the external environment risk is the most important risk, followed by the decision stage risk, the implementation phase risk, and the integration risk. Among them, the political risk is the main risk factor in the external environment risk, the decision-making error risk is the key factor in the decision-making stage risk, the financing risk is the implementation stage risk is more important. The risk of management integration is the key prevention factor in the risk of integration stage. According to the results of risk assessment, the risk disposal strategy and risk control strategy for 13 risk factors are put forward.
【學(xué)位授予單位】：哈爾濱理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：F426.22;F271

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