MN乳业集团并购的经济后果研究

发布时间：2018-01-24 07:25

本文关键词： MN乳业集团企业并购比率分析法经济后果　出处：《哈尔滨商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：并购已经逐渐成为企业扩大市场占有率、优化资源配置、市场扩张的一种手段,随着市场竞争加剧,企业仅靠自身的资本积累是很难迅速扩张的,资本市场日益活跃,越来越多的企业选择并购作为集中产业链、整合资源的有效途径。成功的并购活动,可以整合企业资源,调整企业产业结构,改善企业的绩效,提升企业的综合竞争力,实现企业的战略目标。随着国内乳制品需求大幅增加,乳制品消费市场进一步扩大,中国乳制品行业发展迅速,但乳制品安全问题层出不穷,国外各大乳业品牌蠢蠢欲动,欲占领中国消费市场。因此整合国内"杂而乱"的小型乳制品生产企业,提升产业集中度,形成拥有自主知识产权、先进加工技术的大型乳制品加工企业,提升国产乳业品牌市场份额,加强中国乳业品牌国际竞争力,刻不容缓。MN乳业集团作为国内首屈一指的液体奶和乳制品生产销售企业,提出以"全产业链"模式发展,在对并购后经济后果的相关理论研究进行梳理,在协同效应理论、市场势力理论分析基础上,以MN乳业集团并购Y企业为案例研究对象,研究并购后的经济后果。收集了 MN乳业集团进行并购活动以前及并购以后的经济信息,涉及内容包括并购前后的财务状况、纳税支出、市场情况、资本结构等,并从并购的经济效益和并购存在的经营风险两个方面,采取比率分析法和对比分析法,从并购给MN乳业集团带来的经济效益和并购中存在的风险两个方面,来体现并购的经济后果,对并购的经济后果进行了总结,在最后分别阐述了在并购目标的选择,资源的配置,并购后组织职能的发挥几方面的启示。并针对调查的企业进行了一系列考察,用专业方法进行评价估计,对并购要承担的风险做出了最合理的控制以及并购后的资源整合方面提出了防范对策。希望能够引起其余并购企业及集团的关注,促使企业进行正确规划思路,开展并购,并在生产规模以及产业布局方面做到合理配置,以此实现民族企业的更好更快发展。
[Abstract]:M & A has gradually become a means for enterprises to expand their market share, optimize resource allocation and market expansion. With the intensification of market competition, it is difficult for enterprises to expand rapidly only by their own capital accumulation. As the capital market becomes more and more active, more and more enterprises choose M & A as an effective way to concentrate industrial chain and integrate resources. Successful M & A activities can integrate enterprise resources and adjust the industrial structure of enterprises. Improve the performance of enterprises, enhance the comprehensive competitiveness of enterprises, achieve the strategic objectives of enterprises. With the domestic demand for dairy products increased substantially, the dairy products consumer market further expanded, the dairy industry in China has developed rapidly. However, dairy safety problems emerge in endlessly, foreign dairy brands are ready to occupy the Chinese consumer market. Therefore, the integration of domestic "miscellaneous and chaotic" small dairy production enterprises, to enhance industrial concentration. To form large dairy processing enterprises with independent intellectual property rights and advanced processing technology to enhance the market share of domestic dairy brands and strengthen the international competitiveness of Chinese dairy brands. MN Dairy Group as the leading domestic liquid milk and dairy products production and marketing enterprises, put forward to the "whole industry chain" model development, in the merger and acquisition of the economic consequences of the relevant theoretical research carding. On the basis of synergetic effect theory and market power theory, this paper takes M & A of MN Dairy Group as the case study object. Research the economic consequences after M & A. collect the economic information of MN Dairy Group before and after M & A, including the financial situation, tax expenditure, market situation before and after M & A. Capital structure and so on, and from the economic benefits of M & A and M & A business risk two aspects, using the ratio analysis and comparative analysis. From the two aspects of economic benefits and risks of M & A to MN Dairy Group, the economic consequences of M & A are reflected, and the economic consequences of M & A are summarized. At the end of the paper, the author expounds the enlightenment of the choice of M & A target, the allocation of resources and the exertion of organizational function after M & A. and carries on a series of investigation to the investigated enterprises, and carries on the appraisal and estimation with the professional method. The author makes the most reasonable control to the risk of M & A and puts forward the preventive countermeasures in the aspect of resource integration after M & A, hoping to arouse the attention of the other M & A enterprises and groups, and urge the enterprises to carry on the correct planning thinking. In order to achieve better and faster development of national enterprises, M & A is carried out, and rational allocation of production scale and industrial layout is achieved.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.82;F271

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