中国航空业境外并购的融资管理

发布时间：2018-07-02 12:31

本文选题：航空业 + 境外并购　；参考：《财政部财政科学研究所》2013年硕士论文

【摘要】：随着中国经济的发展,在经济全球化的今天,越来越多具有资本实力的企业开始走出国门,获取资源、技术和国际市场份额,解决经济发展与资源短缺矛盾的需要,中国航空业也不例外。以境外并购手段进行扩张,正成为国内企业资本经营的重要手段。中国企业的兼并重组拥有巨大的市场潜力和想象空间,推进企业兼并重组也是中国经济结构转型、实现经济持续增长的必由之路,尤其对于产品周期长、技术要求非常高的航空业来说,行业内的企业整合尤其重要,在这些行业内通过兼并重组来形成规模经济效益势在必行。在企业进行内部兼并重组的前提下,适当地进行境外并购更能获取资源、技术和国际市场份额,这也是重点行业持续拓展的方向。虽然近年来,中国企业境外并购一方面是并购案例、并购规模、交易数量的不断攀升,另一方面却是并购成功率不高,这一矛盾引起理论界和实务界的高度关注,大家纷纷对此现象进行了分析和探讨。论文从中国航空业境外并购的现状及融资特点出发,对中国航空产业境外并购的融资模式进行了分析,从资本成本、风险等方面分别对航空产业境外并购融资问题进行了剖析,提出了相关的财务分析方法,以帮助提高中国航空业境外并购的融资管理水平,降低中国航空业在境外并购上的融资成本和风险,促成最终的并购成功。
[Abstract]:With the development of China's economy, in today's economic globalization, more and more enterprises with capital strength begin to go abroad to obtain resources, technology and international market share, to solve the contradiction between economic development and resource shortage. China's aviation industry is no exception. Overseas M & A means to expand, is becoming an important means of capital management of domestic enterprises. The merger and reorganization of Chinese enterprises has huge market potential and imagination space. To promote the merger and reorganization of enterprises is also the only way for China to transform its economic structure and achieve sustained economic growth, especially for the long product cycle. For the aviation industry with very high technical requirements, the integration of enterprises in the industry is particularly important. It is imperative to form economies of scale through merger and reorganization in these industries. Under the premise of internal merger and reorganization of enterprises, appropriate overseas mergers and acquisitions can obtain more resources, technology and international market share, which is also the direction of continuous expansion of key industries. Although in recent years, the overseas M & A of Chinese enterprises is on the one hand a case of M & A, the scale of M & A and the number of transactions are rising, on the other hand, the success rate of M & A is not high. This contradiction has aroused great concern in the theoretical and practical circles. Everyone has carried on the analysis and the discussion to this phenomenon. Based on the current situation and financing characteristics of overseas mergers and acquisitions in China's aviation industry, this paper analyzes the financing mode of overseas mergers and acquisitions in China's aviation industry, and analyzes the financing problems of overseas mergers and acquisitions of aviation industry from the aspects of capital cost and risk. This paper puts forward the relevant financial analysis methods to help improve the financing management level of overseas mergers and acquisitions in China's aviation industry, reduce the financing costs and risks of overseas mergers and acquisitions in China's aviation industry, and promote the ultimate success of mergers and acquisitions.
【学位授予单位】：财政部财政科学研究所
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F562.6;F832.4

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