企業(yè)跨國并購的財務(wù)風(fēng)險分析及防范措施

企業(yè)跨國并購的財務(wù)風(fēng)險分析及防范措施
摘要
　　　隨著世界經(jīng)濟(jì)全球化的高速發(fā)展和企業(yè)規(guī)模的擴(kuò)大，越來越大多的企業(yè)已經(jīng)開始走出國門走上世界的舞臺?？鐕①徱呀?jīng)成為了企業(yè)發(fā)展擴(kuò)張、優(yōu)化資源配置的一種捷徑，但是跨國并購面臨的風(fēng)險也是巨大的，而且由于我國部分企業(yè)國際投資經(jīng)驗匱乏，并購成功率并不高。本文通過對跨國并購理論的闡述，首先引出了跨國并購的動機(jī)及其方式；然后結(jié)合具體案例分析了我國企業(yè)跨國并購中存在的財務(wù)風(fēng)險及防范措施；最后展望了未來企業(yè)跨國并購的發(fā)展走向和趨勢。
　　　
關(guān)鍵詞:跨國并購，財務(wù)風(fēng)險，防范措施

Enterprises cross-border M & A financial risk analysis and preventive measures
Abstract
  With the rapid development of the globalization of the world economy and the expansion of business scale, more and most of the enterprises have started to go out of the country onto the world stage.Cross-border mergers and acquisitions has become the growth and expansion of enterprises, optimize the allocation of resources as a shortcut, but the risk of cross-border M & A face is huge, but due to the lack of experience of some enterprises in China International Investment, M & A success rate is not high.Exposition of the theory of cross-border mergers and acquisitions, the first leads to the motivation and the way of cross-border mergers and acquisitions; and then combined with the analysis of specific cases of financial risks and preventive measures in cross-border mergers and acquisitions of Chinese enterprises; Finally, the future development trend of cross-border mergers and acquisitions andtrend.

Key words:Cross-border mergers & acquisitions ,Financial risk,Preventive measures
　　　
　　　

目錄
引言 1
1企業(yè)跨國并購的概述 1
1.1企業(yè)跨國并購的含義與分類 1
1.2企業(yè)跨國并購的動機(jī)和方式 2
1.2.1企業(yè)跨國并購的動機(jī) 2
1.2.2企業(yè)跨國并購的方式 4
2企業(yè)跨國并購所面臨的財務(wù)風(fēng)險及防范措施 4
2.1企業(yè)跨國并購的財務(wù)風(fēng)險分析 4
2.1.1并購前的戰(zhàn)略決策風(fēng)險 4
2.1.2企業(yè)價值評估風(fēng)險 5
2.1.3融資風(fēng)險 5
2.1.4支付風(fēng)險 6
2.2防范企業(yè)跨國并購財務(wù)風(fēng)險措施 6
2.2.1企業(yè)要有明確的國際化發(fā)展戰(zhàn)略 6
2.2.2制定科學(xué)的跨國并購決策 7
2.2.3注重改善信息不對稱的情況 7
2.2.4開辟融資渠道，降低融資風(fēng)險 8
2.2.5審慎地選擇支付方式,降低支付風(fēng)險 8
2.2.6增強(qiáng)目標(biāo)企業(yè)未來現(xiàn)金流量穩(wěn)定性 9
2.2.7利用金融工具規(guī)避匯率風(fēng)險 9
2.2.8注重并購后的整合 10
2.3結(jié)合中石油海外并購的案例的財務(wù)風(fēng)險分析 11
2.3.1石油企業(yè)海外并購日益?zhèn)€性化 11
2.3.2石油企業(yè)海外并購常見財務(wù)風(fēng)險 11
2.3.3防范財務(wù)風(fēng)險的措施 12
3未來企業(yè)跨國并購的發(fā)展走向和趨勢 14
3.1世界經(jīng)濟(jì)全球化大環(huán)境與體制 14
3.2展望未來企業(yè)跨國并購的財務(wù)風(fēng)險 14
結(jié)論 15
參考文獻(xiàn) 16
致謝 18