商业银行对企业海外并购贷款业务的风险管理研究

发布时间：2018-12-12 07:20

【摘要】：海外并购对于企业发展和我国外向型经济建设均具有重要意义。2008年国际金融危机爆发以来,我国企业海外并购形成一个高潮,然而也出现了较高的失败率,这对我国商业银行刚刚起步不久的海外并购贷款业务的风险管理能力和水平提出了严峻挑战。鉴于此,本文结合海外并购理论和现代商业银行风险管理理论,对商业银行海外并购贷款的风险进行识别,从而探索我国商业银行海外并购贷款风险控制的有效途径和方法。本文在归纳总结前人研究成果的基础上,比较了海外并购的种类、动因,以及海外并购各融资方式的优缺点,区分了海外并购贷款与普通贷款、国内并购贷款的区别,沿着海外并购和商业银行海外并购贷款的流程,分析了海外并购贷款风险的特点,采用故障树法将海外并购贷款风险归纳为七类进行了层层分析和识别,并运用层次分析法和模糊综合评价法构建了商业银行海外并购贷款风险评估模型,应用模型对A银行向山东HC集团提供海外并购贷款的案例进行风险识别和评估,最后结合我国商业银行贷款风险控制的现状,提出可行的海外并购贷款风险控制思路和措施。经过上述研究,本文得出以下结论： (1)除普通贷款所具有的风险客观性、多样性、渐进性、突发性等特点外,商业银行海外并购贷款还具有风险叠加性、阶段性的特点,因此海外并购贷款是商业银行风险最大的贷款品种之一。 (2)商业银行应正确看待海外并购贷款风险。本文所提出的信用风险、行业和市场风险、估值风险、整合风险、法律风险、国别风险、金融风险等七类主要风险之间是相互联系、相互影响的,商业银行应细致识别和评估风险因素、整体综合把握风险特征,在业务操作中避免过于保守或过于激进。 (3)本文构建的贷款风险评估模型涵盖了海外并购贷款的主要风险,对海外并购贷款风险因素的重要性进行了排序,通过较为科学的方法量化了风险的大小和程度,可以指导商业银行对海外并购贷款业务风险大小逐笔进行比较、分类和筛选,从而有针对性的采取管控措施。 (4)控制海外并购贷款风险,需要提高风险认识,进行团队建设和制度建设,并针对具体贷款选择适用的风险控制措施。
[Abstract]:Overseas M & A is of great significance to the development of enterprises and the construction of export-oriented economy. Since the outbreak of the international financial crisis in 2008, the overseas M & A of Chinese enterprises has formed a climax, but there has also been a high failure rate. This poses a severe challenge to the risk management ability and level of overseas M & A loan business in China's commercial banks. In view of this, combined with overseas M & A theory and modern commercial bank risk management theory, this paper identifies the risks of overseas M & A loans of commercial banks, and explores the effective ways and methods to control the risk of overseas M & A loans of Chinese commercial banks. On the basis of summing up the previous research results, this paper compares the types and causes of overseas M & A, as well as the advantages and disadvantages of various financing methods of overseas M & A, and distinguishes the differences between overseas M & A loans and ordinary loans, and domestic M & A loans. According to the process of overseas M & A and commercial banks' overseas M & A loan, the characteristics of overseas M & A loan risk are analyzed, and the risk of overseas M & A loan is classified into seven categories by fault tree method. The risk assessment model of overseas M & A loans of commercial banks is constructed by using AHP and fuzzy comprehensive evaluation method. The risk identification and evaluation of the cases of A Bank providing overseas M & A loans to Shandong HC Group are carried out. Finally, combining with the present situation of loan risk control of commercial banks in China, the feasible ideas and measures for risk control of overseas M & A loans are put forward. After the above research, this paper draws the following conclusions: (1) in addition to the characteristics of risk objectivity, diversity, progressiveness and sudden onset of ordinary loans, the overseas M & A loans of commercial banks also have risk superposition. Therefore, overseas M & A loan is one of the most risky loans for commercial banks. (2) Commercial banks should treat the risk of overseas M & A loan correctly. The credit risk, industry and market risk, valuation risk, integration risk, legal risk, country risk, financial risk and so on are interrelated and influence each other. Commercial banks should identify and evaluate the risk factors carefully, grasp the risk characteristics comprehensively, and avoid being too conservative or radical in business operation. (3) the loan risk assessment model constructed in this paper covers the main risks of overseas M & A loans, ranking the importance of the risk factors of overseas M & A loans, and quantifying the magnitude and degree of risks through more scientific methods. It can guide commercial banks to compare, classify and screen the risks of overseas M & A loans. (4) to control the risk of overseas M & A loan, it is necessary to raise the risk awareness, carry out team building and system construction, and select suitable risk control measures for specific loans.
【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.33

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