企业并购风险分析-以联想为例8000.docxVIP

毕 业 设 计（论 文）企业并购风险分析-以联想为例专业年级：级财务管理学 号： 姓 名： 指导教师： 评 阅 人： 学位论文独创性声明：本人所呈交的学位论文是我个人在导师指导下进行的研究工作及取得的研究成果。尽我所知，除了文中特别加以标注和致谢的地方外，论文中不包括其他人已经发表或撰写过的研究成果。与我一同工作的同事对本文所做的任何贡献均已在论文中作了明确地说明并表示了谢意。如不实，本人负全部责任。论文作者（签名）： 年 月 日摘 要企业并购作为资本经营的一种重要方式，对企业的发展起着积极的作用。企业并购即企业之间的合并与收购行为，指在市场机制作用下企业为了获得其他企业的控制权而进行的产权交易活动。企业并购是市场竞争的结果，是企业资本运营的重要方式，是实现企业资源的优化，产业结构的调整、升级的重要途径。虽然企业并购可以给企业带来巨大的利益，但高收益通常伴随着高风险，风险贯穿于整个并购活动的始终，而财务风险是各类风险中最直接、对并购活动影响最大的风险。企业并购的财务风险是指由于并购定价、融资、支付等各项财务决策所引起的企业财务状况恶化或财务成果损失的不确定性，是并购价值预期与价值实现严重负偏离而导致的企业财务困境和财务危机。本文就企业在并购过程中存在的一些风险做简单地了解，本文将以联想作为本次设计的研究对象，研究联想公司在面临市场各大问题所做的判断及决策。关键词：交易；企业并购；财务；风险；价值 ABSTRACTCorporate mergers and acquisitions as an important form of capital management, and plays an active role in the development of the enterprise. Corporate mergers and acquisitions mergers and acquisitions between companies, enterprises under market mechanism in order to take control of other enterprises of such trading. Corporate mergers and acquisitions is the result of market competition, are important ways of enterprise capital operation, is for enterprise resource optimization, upgrading of industrial structure adjustment, important way. While mergers can bring tremendous benefits to the enterprise, but high returns are usually accompanied by high risk, risk throughout the mergers and acquisitions activity all the time, and financial risks are risks most directly, the impact of merger and acquisition activity in the biggest risk. Financial risks of enterprise merger price refers to mergers and acquisitions, financing, payment and other financial decisions arising from uncertainty as to the financial results of the enterprises financial situation deteriorated or lost, is the value of mergers and acquisitions is expected to deviate and the value realization of serious negative financial distress as a result of the financial crisis. In this paper, there is some risk in Enterprise merger simply to understand, this article will use Lenovo as the design of the