企业兼并过程存在的财务问题分析——以美的兼并小天鹅为例.docxVIP

PAGE PAGE 13 企业兼并过程存在的财务问题分析 ——以美的兼并小天鹅为例 摘 要 随着市场经济的发展，企业之间的经济活动愈加频繁。很多企业会通过兼并扩大规模，提高市场竞争力。企业在兼并过程中由于企业之间的差异化必然会产生诸多问题，本文主要分析兼并过程中产生的财务问题为企业兼并带来启示。 首先，本文在通过阐述企业兼并的相关理论的基础上，论述财务问题的分析对企业兼并的意义和分析企业兼并过程中存在的财务问题并分析财务问题产生的原因。然后，以美的集团兼并小天鹅为研究对象，介绍美的和小天鹅的基本情况、兼并过程以及兼并的动因。最后，从盈利能力、偿债能力、营运能力三大财务指标分析美的兼并前后的财务状况。经过分析发现美的换股吸收合并小天鹅后，盈利能力、偿债能力、营运能力都下降了。然后从定价、融资方式、支付方式和兼并后的财务整合四个方面，对美的兼并中的财务问题进行了分析。最后得出结论。 关键词：企业兼并；财务问题；融资问题 Analysis of Financial Problems in the Process of Enterprise Merger Abstract With the development of market economy, economic activities between enterprises become frequently. Many companies will expand their market competitiveness through mergers. However, because the merger is more complex, not all the merger behavior is only good for the enterprise without harm. In fact, there are many enterprises blind merger or failed to deal with the analysis of financial problems in merger activities, resulting in merger activities failure. First of all, on the basis of expounding the relevant theory of enterprise merger, this paper discusses the significance of financial problem analysis to enterprise merger and analyzes the financial problems existing in the process of enterprise merger and analyzes the causes of financial problems. Then, taking the Midea Group to merge the Little Swan as the research object, introduces the basic situation of the Midea Group and the Little Swan, the merger process and the motive of the merger. Finally, analyze the financial situation before and after the merger from the three major financial indicators of profitability, solvency and operating ability. After analysis, it was found that after the merger of Midea absorbed and merged Little Swan, the profitability, solvency and operating ability all declined. Then from four aspects: pricing, financing methods, payment methods and financial integration after the merger, the financial problems in the Midea Group merger are analyzed.Finally ,draw a conclusion. Key words: Merger of