中国企业跨国并购的财务风险与控制以海尔并购通用家电为例.pdfVIP

摘要 随着经济全球化的发展，实施“一带一路”战略、产业结构优化升级等多种因素的推 动下，我国企业跨国并购有加速增长的趋势。在国际舞台上竞争激烈，企业需要面对各种 各样的挑战以及巨大的生存压力，我国企业通常会选择跨国并购来扩张规模，对外直接投 资，来优化资源配置，提高国际竞争力，给企业带来更多的经济利益。但是，成功率并不 容乐观。跨国并购财务风险应该如何控制，引起了学术界的广泛关注。 本文首先对企业跨国并购财务风险现状进行的研究，指出了现金支付为主、融资渠道 受制约以及经营风险增大等现状。介绍了财务风险的类型，并对财务风险的成因进行了深 入分析。根据中国企业的实际情况提出了具体可行的财务风险控制措施。最后分析了海尔 并购通用家电的案例，将理论运用到案例当中，帮助中国企业在以后的跨国并购业务中能 够提高识别财务风险的能力和跨国并购的成功率。 关键词：中国企业；跨国并购；财务风险；控制 I Abstract With the development of economic globalization, the implementation of the “Belt and Road” strategy, the optimization and upgrading of industrial structure and other factors, Chinas cross-border MA has accelerated growth. In the fierce competition on the international stage, companies need to face various challenges and huge pressures for survival. Chinese companies usually choose cross-border mergers and acquisitions to expand their scale and direct foreign investment to optimize resource allocation and improve international competitiveness. Bring more economic benefits. However, the success rate is not optimistic. How to confine the financial gamble of multinational amalgamation and acquisitions has given rise to immense care in the academia word. This paper first studies the current situation of corporate financial risk of cross-border MA, and points out the current situation of cash payment, financing channels and business risks. The genres of financial risks are carried on and the causes of financial hazard are resolved in depth. In the light of the practical circumstances of Chinese company, definite realistic financial risk control calculates are advanced. Finally, the case of Haiers acquisition of general-purpose household appliances was analyzed, and the theory