我国零售连锁企业并购财务风险及其防范——基于国美并购永乐的案例研究-financial risks and precautions in mergers and acquisitions of retail chain enterprises in china - based on the case study of gomes merger and acquisition of yongle.docxVIP

河北经贸大学硕士学位论文enlightenments for our countries’ retailing chain enterprises to defense the financial risk of MA, some of which will be useful, but some of them also need to be improved.The conclusions of this study are included: Due Diligence should be adopted to improve the asymmetric information situation and defend the financial risk of value assessing before the MA; It is necessary to combine the PE value assessment and RNAV value assessment for the method of assessing retailing chain enterprises; With regard to the financial risk of financing link during the MA, that the enterprise character being similar to a finance anddeveloping landed estate、having developed lower reaches and so on diversify approach all isnot the pattern resolving best financing problem way , ought to manage again in reformation; Our country retails chain enterprise’s integrating link ought to be an entire integration with the financial integrating in centre.The innovative place of this article is lain in: 1、angle innovation, this article choose anangle of retailing chain enterprises to analyze financial risk and its defense of MA, and contain a real case in it; 2、according to the character of retailing chain enterprise, specifically for the method of assessing retailing chain enterprises, this article suggest to combine the PEvalue assessment and RNAV value assessment in the 4.2 chapter.Key wor ds: Ret ai l i ng chai n ent er pr i se; MA; Gome; YongLe;IV学位论文独创性声明本人声明，所呈交的学位论文系在导师指导下本人独立完成的研究成果。文 中依法引用他人的成果，均已做出明确标注或得到许可。论文内容未包含法律意 义上已属于他人的任何形式的研究成果，也不包含本人已用于其他学位申请的论 文或成果。本人如违反上述声明，愿意承担以下责任和后果：1、交回学校授予的学位证书；2、学校可在相关媒体上对作者本人的行为进行通报；3、本人按照学校规定的方式，对因不当取得学位给学校造成的名誉损害， 进行公开道歉。4、本人负责因论文成果不实产生的法律纠纷。论文作者签名：日期：年月日学位论文知识产权权属声明 本人在导师指导下所完成的论文及相关的职务作品，知识产权归属学校。学校享有以任何方式发表、复制、公开阅览、借阅以及申请专利等权利。本人离校 后发表或使用学位论文或与该论文直接相关的学术论文或成果时，署名单位仍然 为河北经贸大学。论文作者签名：日期：年月日 导师签名：日期：年月日（本声明的版权归河北经贸大学所有，未经许可，任何单位及任何个人不得擅自使用）第 1 章 绪论1. 1 研究目的、意义企业并购可以有效地降低企业进入新行业的障碍，获得目标企业的核心技术、销售 网络、管理、品牌和人力资源等特殊资产，实现企业低成本的扩张和多元化经营，提高 市场占