我国企业并购融资问题探究..docxVIP

我国企业并购融资问题探究内容摘要从19世纪到20世纪，西方国家从提出企业并购思想到现在一共经历了五次较大的企业并购浪潮，在这一个多世纪里，西方国家的企业通过并购实现了经济的快速发展，使得国家的社会资源得到了有效的配置。随着中国加入世贸组织，我国在经济上越来越开放，很多外国企业进入了我国的市场并占领了很大的市场份额，为了在国际竞争中寻求更好的发展，我国就要进行强强联合，利用企业间的并购来提高我国企业的整体实力。目前我国的企业之间出现了很多并购案例，但这些案例中的成功率很低，说明我国的企业并购还远不够成熟，我国要不断在企业自身、政府以及法律法规等方面对企业并购活动进行完善，使得企业并购能真正的为我国的经济发展做出贡献。关键词企业并购；协同效应；并购原因ABSTRACTSince the 19th century to the 20th century, western countries from the merger and acquisition is proposed to now he has experienced five times bigger wave of mergers and acquisitions, in this more than a century, western companies through mergers and acquisitions has realized the rapid development of economy, the countrys got the effective allocation of social resources. With Chinas accession to the wto, our country is more and more open in terms of economy, many foreign enterprises to enter the market of our country and occupy a large market share, in order to seek better development in the international competition, our country will to cooperate, using the merger between enterprises to enhance the overall strength of Chinas enterprises. At present our country enterprise between appeared a lot of merger cases, but the success rate is very low in these cases, mergers and acquisitions in China are still far from mature, our country should continuously in such aspects as enterprise itself, government, and the laws and regulations to improve the enterprise merger and acquisition activity, makes the enterprise ma can really contribute to the economic development of our country.KEY WORDS Enterprise mergers and acquisitions; Synergistic effect; Mergers and acquisitions motives目 录一、绪论1（一）研究背景1（二）研究意义1（三）国内外文献综述11、国外研究现状12、国外研究现状2二、企业并购原因理论2（一）协同效应理论21、经营协同效应32、财务协同效应33、技术协同效应3（二）代理理论3（三）多元化理论3（四）其他理论41、价值低估和市场信号理论42、市场行为下的再分配理论4三、我国企业并购融资案例分析——以岩海技术有限公司为例4（一）岩海技术有限公司简介4（二）岩海技术有限公司并购现状5四、岩海技术有限公司并购融资原因分析5（一）并购的最主要原因是化解企业危机51、消除企业亏损52、并购可以减少企业的破产现象63、对国有企业的优化有重要作用64、中国实行大企业集团战略的需要7（二）自主的逐利性商业原因严重不足7（三）国有企业的代理人个人原因严重7五、岩海技术有限公司并购融资的对策7（一）重组产权关系7（