华谊兄弟并购东阳美拉动因及风险分析.docxVIP

PAGE 2 华谊兄弟并购东阳美拉动因及风险分析 摘 要 　　近些年以来，由于国内企业并购的不断发展，文化传媒行业的企业并购，强强联合迅速增加。因为对被并购方的财务信息了解的不够充分，以及无形资产价值评估比较特殊。传媒企业通常用“高估值和高业绩承诺”的形式来并购资源。但是，这样的方式会给企业并购带来一定的风险。所以，本文通过案例分析和文献研究的方式，对华谊兄弟并购东阳美拉的动因和风险进行探究。　　在对并购动因和风险进行分析时，学习了很多的文献资料与研究方法，对事件有了一个更全面的认识。本文对华谊兄弟并购东阳美拉的背景和并购情况做出了简要的介绍；对华谊兄弟企业并购过程和动因做了仔细的分析。企业并购的动因主要有有获得协同效应、追求轻资产，提高市场竞争力和影视行业发展前景大。对企业从并购前的信息不对称风险、并购中的支付风险和并购后的财务整合风险进行分析。并有针对购前的信息不对称风险防范、并购中的支付风险防范和并购后的财务整合风险防范性地提出了有效的措施，使企业减少经济损失。　　文章根据所发生的并购风险提出了相应的防范措施，如深入了解被并购企业信息、选择科学的支付方式、选择合理的整合模式。为类似华谊兄弟并购东阳美拉的案例提供帮助和借鉴。 关键词：并购风险；企业并购；风险分析 Abstract 　　In recent years, due to the continuous development of domestic enterprise merger and acquisition, the merger and acquisition of cultural media industry, strong alliance has increased rapidly. Due to the information asymmetry of the acquired party and the difficulty in valuing individual intangible assets. They often use the form of overvaluation and high performance commitment to obtain more resources. However, such a way will bring some risks to M amp; A. Therefore, this paper uses case study method and literature research method to analyze and study the motivation and risk of Huayi Brothers Merger and acquisition of Dongyang Meila. Through consulting a large number of literature and research materials, learning relevant research methods, we have a deep understanding of the motivation and risk of M amp; A. This paper briefly describes the background and significance of Huayi Brothers acquisition of Dongyang Meila; This paper analyzes the process and motivation of Huayi Brothersm amp; A in detail. The motivation of M amp; A is to obtain synergy effect, to pursue light assets, to improve market competitiveness and to have a bright future in the film and television industry. This paper analyzes the risk of information asymmetry before M amp; A, payment risk in M amp; A and financial and integration risk after M amp; A. In order to reduce the economic loss of enterprises, the risk prevention measures are put forward. 　　Ac