本文選題：并購 + 并購融資　； 參考：《山東財經大學》2014年碩士論文

【摘要】：企業(yè)并購是指企業(yè)之間的兼并和收購。并購能夠有效降低交易費用，實現多元化經營，提高企業(yè)的競爭力，使企業(yè)迅速擴大規(guī)模，是企業(yè)發(fā)展過程中的一項重要戰(zhàn)略選擇。并購的本質是社會資源的重新配置。 并購是一個高度復雜的過程，企業(yè)在并購的過程中會面臨各種問題，其中并購融資問題更是企業(yè)實施并購戰(zhàn)略的一個主要的制約因素。我國的企業(yè)并購開始于改革開放之后，真正意義上的并購也只有十幾年的歷史，再加上我國的資本市場不發(fā)達，融資工具比較單一，資金來源較少，所以融資問題一直是困擾我國企業(yè)并購發(fā)展的“瓶頸”。 本論文以研究信托在企業(yè)并購融資中的應用為主要內容。本文在對我國現階段并購融資現狀和信托業(yè)發(fā)展現狀進行了深入研究之后，，發(fā)現信托可以憑借其制度優(yōu)勢參與到企業(yè)的并購中，信托在為企業(yè)解決并購融資問題的同時還能夠實現其自身的轉型發(fā)展。隨后本文根據信托制度和金融創(chuàng)新理論，比較全面地設計了四種信托并購模式，并對每一種模式進行了詳細的介紹。最后本文利用案例分析的方法探討并證明了信托可以在企業(yè)并購融資中發(fā)揮重大作用。本文的研究有望為我國企業(yè)利用信托進行并購提供參考，并為我國并購基金的發(fā)展提供思路。
[Abstract]:M & A refers to mergers and acquisitions between enterprises. M & A is an important strategic choice in the process of enterprise development, which can effectively reduce transaction costs, achieve diversified management, improve the competitiveness of enterprises, and make enterprises expand rapidly. The essence of M & A is the reallocation of social resources. M & A is a highly complex process, and enterprises will face various problems in the process of M & A, in which M & A financing is one of the main constraints for the implementation of M & A strategy. The merger and acquisition of enterprises in our country began after the reform and opening up, and the real M & A has only a history of more than ten years. In addition, the capital market of our country is not developed, the financing tools are relatively single, and the sources of funds are relatively small. Therefore, the financing problem has been the bottleneck of the development of M & A in our country. The main content of this thesis is to study the application of trust in M & A financing. After deeply studying the present situation of M & A financing and the development of trust industry in China, this paper finds that trust can participate in M & A by virtue of its institutional advantages. Trust can solve M & A financing problem for enterprises and realize its own transformation and development at the same time. Then, according to the trust system and financial innovation theory, this paper designs four trust M & A models in a more comprehensive way, and introduces each model in detail. Finally, this paper discusses and proves that trust can play an important role in M & A financing by case study. The research in this paper is expected to provide reference for Chinese enterprises to use trust to conduct mergers and acquisitions, and to provide ideas for the development of M & A funds in China.
【學位授予單位】：山東財經大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F271;F275;F832.49

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本文編號：2086110