财务管理专业毕业论文--企业并购财务风险及防范.docVIP

摘 要 伴随着经济全球化的发展，并购已成为企业提升竞争力和企业发展的一个重要途径。并购行为在中国起步较晚，但其发展速度较西方发达国家而言却是比较快的。企业并购作为一种高风险经营活动，风险贯穿于整个并购活动的始终，其中财务风险是企业并购成功与否的重要影响因素。对于财务风险的分析及防范研究有助于让企业认识到并购中财务风险的重要性，促使企业采取相应的措施，更好的防范财务风险实现协同效应，从而提高并购成功率。 本文以并购理论为此基础，从企业并购财务风险的定义及特点出发，对企业并购的财务风险进行分析，并提出相应的防范措施。首先，对并购及并购的财务风险的概念及相关理论进行阐述，紧接着进入论文的主体部分，按照并购活动的一般过程，将并购活动划分为企业并购准备阶段的目标企业价值评估风险、并购实施阶段的融资与支付风险、并购后期整合财务整合风险，对各阶段存在的财务风险进行分析，进而提出针对各个阶段财务风险的防范措施。最后引入吉利并购沃尔沃的案例，结合前面的理论对案例进行分析。最后对全文进行总结，得出结论。 关键词：并购；财务风险；财务风险的防范 Abstract Along with the development of economic globalization, mergers and acquisitions have become an important way to enhance the competitiveness and enterprise development. M A activity in China started late, but its growth rate compared with developed Western countries is faster. M A as a high-risk business activities, risk throughout the entire M A activity, the financial risk is an important factor for the success of mergers and acquisitions. For financial risk analysis and prevention can help companies recognize the importance of financial risk in M A, prompting companies to take appropriate measures to better guard against financial risks to achieve synergies, thereby enhancing the M A success rate. This chapter based on the MA theory, from the definition and characteristics of mergers and acquisitions of financial risk starting, to analyze the financial risks of mergers and acquisitions, and the corresponding preventive measures. First, describe the concepts and theories of M A of financial risks, Then enter the main part of the paper, in accordance with the general process of the M A activity M A activity divided the target enterprise value assessment of risks of mergers and acquisitions in the preparation stage, M A financing and payment risk of the implementation phase, mergers and acquisitions of the late integration of financial integration risk. Analyze the financial risk of the various stages, and then propose preventive measures against the financial risks of the various