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ID:22916292
大小:85.00 KB
页数:18页
时间:2018-11-01
《企业并购的财务风险及防范措施》由会员上传分享,免费在线阅读,更多相关内容在工程资料-天天文库。
1、摘要在市场经济条件卜,并购的规模和领域也不断扩大,企业并购己成为企业扩张的重要方式,并且在西方国家形成五次较火规模的并购浪潮。随着我国资本市场的逐步发展、逐渐规范和产业结构升级的内在需求,企业并购活动口趋活跃,企业间的并购行为更加频繁,以企业并购为手段的资源优化配置行为在我国发展更加迅速,使得并购企业的资本效率、资源控制力及管理水平得到快速提升,并购扩张的速度远远超过通过内部扩张的速度,并购已成为企业的一种重要的财务活动,但并购的环境日趋复杂,并购的风险也日益加剧,企业并购活动本身是一项存在较高风险的经营活动,面临着包括法律、财务等各方面的风险,其屮财务风险不可避免,有时会引发
2、财务危机。本文着重分析了企业并购的财务风险的來源,主要有定价风险、融资风险和支付风险,并给出了相应的防范措施。本文从并购风险的内涵和來源入手,对企业并购过程屮出现的定价风险、融资风险及支付方式风险等财务风险问题进行了分析和探讨,并基于我国的现实情况提出了企业并购风险管控的相关措施及建议。企业并购财务风险既相互联系,又相互制约,共同影响着企业并购财务风险。关键词:企业并购;财务风险;形成原因;防范措施ABSTRACTUndertheconditionofmarketeconomy,expandingthescaleofthem&aandfieldalso,m&ahasbecome
3、animportantwaytobusinessexpansion,andinthewesterncountriesformedfivetimesmoremassivewaveofmergersandacquisitions.Withthegraduallydevelopmentofcapitalmarketinourcountry,graduallystandardizedandinnerdemandsfortheupgradingofindustrialstructure,enterprisemergerandacquisitionactivityhasbecomeincr
4、easinglyactive,enterprisemergersandacquisitionsbetweenbehaviormorefrequently,bymeansofmergerandacquisitionoftheresourceconfigurationoptimizationbehaviormorerapiddevelopmentinourcountry,makesthecapitalefficiencyofm&aenterprises,resourcecontrolandupgradingthemanagementleveltogetfast,mergersand
5、acquisitionstoexpandfasterthanthroughinternalexpansion,mergersandacquisitionshavebecomeakindofimportantfinancialactivities,butthem&aenvironmentincreasinglycomplex,theriskofm&aisincreasing,enterprisemergerandacquisitionactivityitselfisahighriskofbusinessactivities,facingincludinglegal,financi
6、alandsoonvariousaspectsofrisk,thefinancialriskisinevitable,cansometimescausefinancialcrisis-Thispaperanalyzesthesourceofthefinancialriskoftheenterprisemergersandacquisitions,mainlyincludepricingrisk,financingriskandpaymentrisk,andgivesthecorrespondingpreventivemeasures.Inthispaper,fromthecon
7、notationandthesourceofm&arisk,totheenterprisemergersandacquisitionsintheprocessofpricingrisk,financialriskproblemsuchasfinancingriskandpaymentriskareanalyzedanddiscussed,andbasedontherealityofourcountryputforwardthemergerandacquisitionriskcontrolme
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