华菱钢铁并购FMG项目贷款风险管理研究

发布时间：2018-05-03 04:44

本文选题：进出口银行 + 并购贷款　；参考：《湖南大学》2012年硕士论文

【摘要】：随着“走出去”战略的深入执行,部分国内企业开始参与国际市场的并购,并借助银行的信贷支持来完成并购业务。银行在发展海外并购贷款业务的同时,也面临不少风险,本文以湖南进出口银行对华菱钢铁并购FMG项目的并购贷款为研究对象,对其风险管理进行了研究。本文首先阐明了研究的相关背景,并对相关理论与文献进行了综述,然后对华菱钢铁并购FMG项目进行概述,并从政治及法律风险、经济及财务风险、整合及经营风险、以及资源和技术风险等方面对华菱钢铁并购FMG项目贷款的风险进行识别；其后,运用层次分析法与模糊综合评价方法对华菱钢铁并购FMG项目贷款的风险进行了评估,其中经济及财务风险、整合及经营风险相对较大,整体评估结果表明风险相对可控,但潜在的风险点需要加强风险控制；最后针对华菱钢铁并购FMG项目贷款的风险,提出合理确定贷款模式、交易结构、贷款币种以及加强并购协议管理等从贷中风险管理对策以及建立银行内控机制、加强贷后检查、完善贷后风险预警信号、推进贷款风险的转移及以及推进企业整合等贷后风险管理对策；并提出了为保障风险管理对策成功发挥湖南进出口银行应采取的相关措施。本文按照风险管理的流程,对华菱钢铁并购贷款的风险管理进行了研究。在理论层面上,对风险类型进行有效识别,设计相应的风险控制方法,为相关企业和银行进行海外并购提供一定的理论指导。在实践层面上,通过利用风险识别、风险评价以及风险控制的方法为湖南进出口银行海外并购贷款业务的开展提供了决策支持,增强了并购企业的核心竞争力。
[Abstract]:With the further implementation of the "going out" strategy, some domestic enterprises begin to participate in the M & A in the international market and complete the M & A business with the credit support of the banks. Banks are facing a lot of risks while developing overseas M & A loan business. This paper studies the risk management of Hunan Export-Import Bank on the M & A loan of Valin Iron & Steel M & A (FMG) project. This paper first expounds the relevant background of the research, and summarizes the relevant theories and literature, then summarizes the FMG project of Valin Iron & Steel merger, and summarizes the political and legal risks, economic and financial risks, integration and operational risks. In addition, the paper identifies the risk of Valin M & A FMG project loan in terms of resource and technical risk, and then evaluates the risk of Valin iron and steel M & A FMG project loan by using AHP and fuzzy comprehensive evaluation method. Among them, the economic and financial risk, integration and management risk is relatively large, the overall evaluation results show that the risk is relatively controllable, but the potential risk points need to strengthen risk control. The paper puts forward some countermeasures of risk management, such as reasonable loan mode, transaction structure, loan currency and strengthening management of merger and acquisition agreement, as well as establishing internal control mechanism of bank, strengthening post-loan inspection, perfecting warning signal of post-loan risk, etc. The countermeasures of risk management after loan, such as the transfer of loan risk and the promotion of enterprise integration, are put forward, and the relevant measures that should be taken by Hunan Export-Import Bank to ensure the success of risk management are put forward. According to the process of risk management, this paper studies the risk management of Valin's M & A loan. On the theoretical level, the risk types are identified effectively, and the corresponding risk control methods are designed to provide some theoretical guidance for overseas mergers and acquisitions of related enterprises and banks. In practice, the methods of risk identification, risk evaluation and risk control provide decision support for the overseas M & A loan business of Hunan Export-Import Bank, and enhance the core competitiveness of M & A enterprises.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.4;F426.31

【参考文献】