HC公司成功并购KD公司的财务风险控制研究

发布时间：2018-02-27 06:20

本文关键词： 企业并购财务风险风险控制　出处：《吉林财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：近年来,由于经济全球化速度的加快,企业间竞争的压力越来越大,为了在竞争中不被淘汰,企业就要想办法提高市场占有率,以此来抢占市场,获得竞争优势。为了实现这一目的,就有越来越多的企业进行并购重组,因此,企业并购可以说是到了井喷期。而随着企业并购的风起云涌,越来越多的企业加入到企业并购的浪潮中来,我国文化传媒行业的资产并购和整合也正处于一个快车道。国家为了贯彻落实中共中央关于文化改革发展战略部署,加快推动我国的文化传媒产业成为我国的国民经济的支柱,也相继投入了多次专项基金。同时,国家为了推动我国文化传媒行业的发展,相继出台了一系列的新政策,近几年,在国家政策的大力扶持下,我国的文化传媒行业来得到了稳步的发展。我国的文化传媒行业的产值规模、增幅和组织结构都发生了较大的变化。可以说文化传媒行业的发展势头越来越好。因此,本文选取了文化传媒行业并购作为主要研究对象。然而,大规模的企业并购也存在着一定的风险,企业并购的财务风险贯穿着整个企业并购的过程,包括前期的定价风险,中期的融资风险和支付风险以及后期的财务整合风险等,这几种财务风险中的任何一种都是不容我们忽视的。对企业并购财务风险的控制是决定企业并购成败的关键,稍有不慎,可能会导致全盘皆输。所以,只有有效的做好相应的财务风险的防控措施,才能保证企业并购的成功。本文选取了HC公司并购KD公司作为研究对象,从并购前的定价风险、并购中的融资和支付风险以及并购后的财务整合风险,四个角度分析了企业并购存在的财务风险以及相应的风险防控措施。首先介绍了本篇论文的研究背景、研究意义、以及国内外的研究现状。其次又介绍了企业并购的概念、种类,企业并购的动因,企业并购财务风险的概念、风险类型以及企业并购财务风险的成因等。再次,对HC公司并购KD公司的案例进行了介绍,分析了他们的并购背景、并购动机、并购过程以及并购结果,并对他们并购前中后的财务风险以及相应的风险防控措施进行了分析。最后,通过本篇论文的分析,得出了一个启示,要做好相应的财务风险的防控,确保并购的顺利进行。本文通过对HC公司并购KD公司财务风险的控制进行了分析,为其他企业的并购提供了一定的参考,也有助于提升企业并购的成功率。
[Abstract]:In recent years, due to the acceleration of economic globalization, the pressure of competition among enterprises is increasing. In order not to be eliminated in the competition, enterprises must find ways to increase their market share in order to seize the market. Gain a competitive advantage. In order to achieve this goal, more and more enterprises carry out mergers and acquisitions. Therefore, enterprise mergers and acquisitions can be said to be in the blowout period. More and more enterprises are joining in the wave of enterprise mergers and acquisitions, and asset mergers and acquisitions and integration in the cultural media industry in China are also in a fast lane. In order to implement the Central Committee of the CPC Central Committee's strategy for cultural reform and development, To accelerate the promotion of the cultural media industry in our country to become the pillar of our national economy, we have also invested many special funds one after another. At the same time, in order to promote the development of the cultural media industry in our country, the state has successively introduced a series of new policies, in recent years, With the strong support of national policies, the cultural media industry in China has been steadily developing. The output value of the cultural media industry in China is on a scale. It can be said that the development momentum of the cultural media industry is getting better and better. Therefore, this paper chooses M & A in the cultural media industry as the main research object. There are some risks in large-scale M & A. The financial risk of M & A runs through the whole process of M & A, including pre-pricing risk, medium-term financing risk and payment risk, and later financial integration risk, etc. Any of these financial risks should not be ignored by us. The control of financial risk of M & A is the key to the success or failure of M & A. Only by making effective prevention and control measures of financial risk can we guarantee the success of M & A. this paper selects HC Company M & A KD Company as the research object, and from the pricing risk before M & A, The financing and payment risk in M & A and the financial integration risk after M & A are analyzed from four angles. Firstly, the research background and significance of this paper are introduced. And the current research situation at home and abroad. Secondly, it introduces the concept, category, motivation of M & A, the concept of financial risk of M & A, the type of risk and the cause of formation of financial risk of M & A. This paper introduces the case of HC company merger and acquisition of KD Company, analyzes their background, motive, process and result of M & A. Finally, through the analysis of this paper, a revelation is drawn, that is, the prevention and control of the corresponding financial risks should be done well. This paper analyzes the financial risk control of HC Company M & A KD Company, which provides some reference for other enterprises, and also helps to improve the success rate of M & A.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：G124;F271;F275

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