企业并购过程中的财务风险控制策略研究

企业并购过程中的财务风险控制策略研究摘要在市场竞争尤为激烈的当今世界，并购已成为现代企业扩张以及提高企业核心竞争力的主要手段，在世界经济中扮演者越来越重要的角色。从19世纪末，西方国家经历了5次并购风浪。但由于其并购的不确定性、复杂性等因素，导致大多企业的并购活动遭受挫折。我国在近代随着改革开放的不断推进和市场经济体制的不断发展，以及在政府的相关政策的支持下，我国逐渐演变为大规模的企业并购，逐步拉开了我国企业并购的序幕。本文针对企业并购过程中的财务风险防范与控制为研究对象，在企业并购的过程中，由于市场的不确定因素，会涌现出诸多风险，其财务风险的合理控制与防范是企业成功并购与否的关键性因素，因此，对于当前企业并购中的财务风险的控制和研究具有非常重要的战略意义。本文着重从财务风险的定义、类型及成因方面的定价估值、融资风险、支付方式和并购过程中的财务整合展开分析，从而提出行之有效的财务风险防范控制解决方法。关键词：企业并购：财务风险：风险控制AbstractIn today's world,where market competition is particularly fierce,mergers and acquisitionshave become the main means for modern enterprises to expand and improve their corecompetitiveness,playing an increasingly important role in the world economy.From the end ofthe 19th century,Western countries experienced 5 mergers and acquisitions.However,due to theuncertainty,complexity and other factors of its mergers and acquisitions,most enterprises havesuffered setbacks in their M&A activities.In modern times,with the continuous advancement ofreform and opening up and the continuous development of the market economy system,as wellas the support of relevant government policies,China has gradually evolved into large-scaleenterprise mergers and acquisitions,and gradually opened the prelude to China's enterprisemergers and acquisitions.In the process of M&A,due to market uncertainties,many risks willemerge,and the reasonable control and prevention of financial risks is the key factor forsuccessful M&A,so it is of great strategic significance for the control and research of financialrisks in current M&A.This paper focuses on the definition,types and causes of financial risks,pricing valuation,financing risks,payment methods and financial integration in the M&Aprocess,so as to propose effective financial risk prevention and control solutions.Key Words:mergers and acquisitions;financial risks;Risk control目录摘要…Abstract......第一章叼引言.第二章企业并购的概述及并购风险的总括22.1企业并购的定义22.2企业并购的现状3第三章企业并购过程中财务风险的特征和成因分析.43.1财务风险的特征….43.2企业并购财务风险的成因分析.43.2.1企业定价估值的财务风险.43.2.2融资风险及支付方式的选择风险.63.2.3财务重组的风险及影响因素..7第四章企业并购过程中财务风险的防范控制.94.1企业的定价估值风险防范措施…94.2融资和支付方式的种类形式.…124.3融资方面防范控制举措144.4支付风险的控制措施154.5财务并购后期重组的风险防范措施.16第五章总结…17参考文献18致谢.19