中国企业跨国投资财务风险研究.docVIP

PAGE PAGE 27 中国企业跨国投资财务风险研究 摘要 近些年全球化逐渐成为一个发展的大背景，一系列的国内外驱动力使得中国企业越来越强调“走出”这一概念，中国对外投资经历着从无到有，由简单的单一化向复杂的多元化的快速发展。 然而，在中国企业海外投资的快速壮大中，巨大的商机往往伴随的就是巨大的风险，大量的失败案例告诉我们海外投资背后的巨大风险。在这一情况下，我们就迫切的需要探求海外投资失败的原因。文章认为当前中国企业在进行海外投资失败主要的原因就是财务风险。财务风险是海外投资不可避免会遇到的问题，无论哪种财务风险都可能给企业的运营带来损失。国内目前缺少结合案例一起分析。文章通过文献研究和个案研究法来分析，通过查阅资料，分析案例，两者结合起来对中国企业海外投资中可能碰到的财务风险进行一定程度上的探究，并且找到相关合适的风险规避方法。 本文的主要观点首先是目前中国企业跨国投资的财务风险主要包含资金风险，财务管控整合风险以及法律政治风险。其次结合联想收购IBM这一案例提出可以用加深企业风险意识，合理转移风险，优化资本结构，拓宽融资渠道等方法来规避资金风险，以及用注重信息收集，建立合理投资体系，避免盲目投资，对财务文化整合做好充分准备的方式来应对财务管控整合风险。 关键词：海外投资财务风险风险规避 Abstract Globalization has become the background of development in recent years. A series of drivers from homeland and abroad make chinese companies focus on the concept of going out of the china.chinese overseas investment developed from scratch,and experienced from simple to complex . However,when chinese companies expanded the overseas investment rapidly,we can found that risk always associate with return or opportunity . A lot of failures indicate the risk behind the overseas investment.In this situation,we need to find the the reason of the failures in overseas investment.This thesis think that the most important reason for chinese overseas investment failures is financial risk.financial risk is the risk that can not be avoided.any kind of these risks will make the loss to companies.Chinese scholars pay attention to theory aspect,which lack a case analysis .This thesis analyse the possible financial risk which will happen during the overseas investment through refering data base and a typical case ,trying to study this risk in some extent and find the risk prevention. The first main point of this thesis is that the financial risks of chinese enterprises’ overseas investment include capital risk,financial integration risk,politics risk and law risk 。The second point is that we can avoid capital risk by building enterprises’ risk awareness ,transferring risk,adjusting capital gearing and broadening the financial c