發(fā)布時間：2018-02-27 06:20

  本文關鍵詞： 企業(yè)并購 財務風險 風險控制　出處：《吉林財經(jīng)大學》2017年碩士論文　論文類型：學位論文

【摘要】：近年來,由于經(jīng)濟全球化速度的加快,企業(yè)間競爭的壓力越來越大,為了在競爭中不被淘汰,企業(yè)就要想辦法提高市場占有率,以此來搶占市場,獲得競爭優(yōu)勢。為了實現(xiàn)這一目的,就有越來越多的企業(yè)進行并購重組,因此,企業(yè)并購可以說是到了井噴期。而隨著企業(yè)并購的風起云涌,越來越多的企業(yè)加入到企業(yè)并購的浪潮中來,我國文化傳媒行業(yè)的資產(chǎn)并購和整合也正處于一個快車道。國家為了貫徹落實中共中央關于文化改革發(fā)展戰(zhàn)略部署,加快推動我國的文化傳媒產(chǎn)業(yè)成為我國的國民經(jīng)濟的支柱,也相繼投入了多次專項基金。同時,國家為了推動我國文化傳媒行業(yè)的發(fā)展,相繼出臺了一系列的新政策,近幾年,在國家政策的大力扶持下,我國的文化傳媒行業(yè)來得到了穩(wěn)步的發(fā)展。我國的文化傳媒行業(yè)的產(chǎn)值規(guī)模、增幅和組織結構都發(fā)生了較大的變化�？梢哉f文化傳媒行業(yè)的發(fā)展勢頭越來越好。因此,本文選取了文化傳媒行業(yè)并購作為主要研究對象。然而,大規(guī)模的企業(yè)并購也存在著一定的風險,企業(yè)并購的財務風險貫穿著整個企業(yè)并購的過程,包括前期的定價風險,中期的融資風險和支付風險以及后期的財務整合風險等,這幾種財務風險中的任何一種都是不容我們忽視的。對企業(yè)并購財務風險的控制是決定企業(yè)并購成敗的關鍵,稍有不慎,可能會導致全盤皆輸。所以,只有有效的做好相應的財務風險的防控措施,才能保證企業(yè)并購的成功。本文選取了HC公司并購KD公司作為研究對象,從并購前的定價風險、并購中的融資和支付風險以及并購后的財務整合風險,四個角度分析了企業(yè)并購存在的財務風險以及相應的風險防控措施。首先介紹了本篇論文的研究背景、研究意義、以及國內外的研究現(xiàn)狀。其次又介紹了企業(yè)并購的概念、種類,企業(yè)并購的動因,企業(yè)并購財務風險的概念、風險類型以及企業(yè)并購財務風險的成因等。再次,對HC公司并購KD公司的案例進行了介紹,分析了他們的并購背景、并購動機、并購過程以及并購結果,并對他們并購前中后的財務風險以及相應的風險防控措施進行了分析。最后,通過本篇論文的分析,得出了一個啟示,要做好相應的財務風險的防控,確保并購的順利進行。本文通過對HC公司并購KD公司財務風險的控制進行了分析,為其他企業(yè)的并購提供了一定的參考,也有助于提升企業(yè)并購的成功率。
[Abstract]:In recent years, due to the acceleration of economic globalization, the pressure of competition among enterprises is increasing. In order not to be eliminated in the competition, enterprises must find ways to increase their market share in order to seize the market. Gain a competitive advantage. In order to achieve this goal, more and more enterprises carry out mergers and acquisitions. Therefore, enterprise mergers and acquisitions can be said to be in the blowout period. More and more enterprises are joining in the wave of enterprise mergers and acquisitions, and asset mergers and acquisitions and integration in the cultural media industry in China are also in a fast lane. In order to implement the Central Committee of the CPC Central Committee's strategy for cultural reform and development, To accelerate the promotion of the cultural media industry in our country to become the pillar of our national economy, we have also invested many special funds one after another. At the same time, in order to promote the development of the cultural media industry in our country, the state has successively introduced a series of new policies, in recent years, With the strong support of national policies, the cultural media industry in China has been steadily developing. The output value of the cultural media industry in China is on a scale. It can be said that the development momentum of the cultural media industry is getting better and better. Therefore, this paper chooses M & A in the cultural media industry as the main research object. There are some risks in large-scale M & A. The financial risk of M & A runs through the whole process of M & A, including pre-pricing risk, medium-term financing risk and payment risk, and later financial integration risk, etc. Any of these financial risks should not be ignored by us. The control of financial risk of M & A is the key to the success or failure of M & A. Only by making effective prevention and control measures of financial risk can we guarantee the success of M & A. this paper selects HC Company M & A KD Company as the research object, and from the pricing risk before M & A, The financing and payment risk in M & A and the financial integration risk after M & A are analyzed from four angles. Firstly, the research background and significance of this paper are introduced. And the current research situation at home and abroad. Secondly, it introduces the concept, category, motivation of M & A, the concept of financial risk of M & A, the type of risk and the cause of formation of financial risk of M & A. This paper introduces the case of HC company merger and acquisition of KD Company, analyzes their background, motive, process and result of M & A. Finally, through the analysis of this paper, a revelation is drawn, that is, the prevention and control of the corresponding financial risks should be done well. This paper analyzes the financial risk control of HC Company M & A KD Company, which provides some reference for other enterprises, and also helps to improve the success rate of M & A.
【學位授予單位】：吉林財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：G124;F271;F275

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本文編號：1541540