G医药集团公司并购中财务风险控制研究

发布时间：2018-05-15 00:22

本文选题：企业并购 + 风险控制　；参考：《华南理工大学》2013年硕士论文

【摘要】：本文通过G医药集团公司并购案例的研究，从中寻求对并购中面临的财务风险控制的最优措施。企业并购是一项复杂性与技术性并存的专业投资活动，又是一项高收益与高风险伴生的业务，一方面能使企业迅速发展，另一方面也会给企业带来各种风险，尤其是财务风险最为突出。如目标企业估值风险、融资方式选择风险和支付方式选择风险等等财务风险。对于医药行业中型企业来说，由于行业回款期长的特点以及自身资金实力有限，对于风险的抵抗能力相对较差，，但要在激烈的市场竞争以及新医改的政策条件下生存及发展，又需要尽快地扩大规模。因此，如何防范并购带来的财务风险，是医药行业中型企业发展的关键。本文将以G医药集团为例子。G医药集团是典型的医药行业中型企业，为了企业发展对其他公司进行了企业并购，为了防范企业并购中存在的财务风险，G医药集团采取了一些措施。本文将以理论和实际相结合的方法，从行业特点到公司实际出发，对G医药集团的各项措施作出评价，分析其措施成功或失败的原因。并根据对G医药集团并购的研究，总结出医药行业中型企业在并购时防范财务风险的有效措施。
[Abstract]:Based on the case study of M & A of G Pharmaceutical Group, this paper seeks the best measures to control the financial risk in M & A. M & A is a professional investment activity with both complexity and technology, and it is also a business accompanied by high profit and high risk. On the one hand, it can make the enterprise develop rapidly, on the other hand, it will bring all kinds of risks to the enterprise. Especially the financial risk is the most prominent. Such as target enterprise valuation risk, financing mode choice risk and payment mode choice risk and so on financial risk. For the medium-sized enterprises in the pharmaceutical industry, due to the long payback period of the industry and the limited capital strength, the ability to resist risks is relatively poor, but they have to survive and develop under the conditions of fierce market competition and the policy of the new health care reform. There is also a need to scale up as quickly as possible. Therefore, how to prevent the financial risks brought by M & A is the key to the development of medium-sized pharmaceutical enterprises. This paper will take G Pharmaceutical Group as an example. G Pharmaceutical Group is a typical medium-sized enterprise in the pharmaceutical industry. For the sake of enterprise development, M & A of other companies has been carried out. In order to prevent the financial risk existing in M & A, G Pharmaceutical Group has taken some measures. Based on the combination of theory and practice, this paper evaluates the measures of G Pharmaceutical Group from the characteristics of the industry to the reality of the company, and analyzes the reasons for the success or failure of the measures. According to the research on M & A of G Pharmaceutical Group, the effective measures of preventing financial risk in M & A of medium sized enterprises in pharmaceutical industry are summarized.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F271;F426.72

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