企業(yè)跨國并購的財務風險分析及防范措施

企業(yè)跨國并購的財務風險分析及防范措施
摘要
　　　隨著世界經濟全球化的高速發(fā)展和企業(yè)規(guī)模的擴大，越來越大多的企業(yè)已經開始走出國門走上世界的舞臺?？鐕①徱呀洺蔀榱似髽I(yè)發(fā)展擴張、優(yōu)化資源配置的一種捷徑，但是跨國并購面臨的風險也是巨大的，而且由于我國部分企業(yè)國際投資經驗匱乏，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及其方式；然后結合具體案例分析了我國企業(yè)跨國并購中存在的財務風險及防范措施；最后展望了未來企業(yè)跨國并購的發(fā)展走向和趨勢。
　　　
關鍵詞:跨國并購，財務風險，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)跨國并購的動機和方式 2
1.2.1企業(yè)跨國并購的動機 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風險及防范措施 4
2.1企業(yè)跨國并購的財務風險分析 4
2.1.1并購前的戰(zhàn)略決策風險 4
2.1.2企業(yè)價值評估風險 5
2.1.3融資風險 5
2.1.4支付風險 6
2.2防范企業(yè)跨國并購財務風險措施 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，降低融資風險 8
2.2.5審慎地選擇支付方式,降低支付風險 8
2.2.6增強目標企業(yè)未來現金流量穩(wěn)定性 9
2.2.7利用金融工具規(guī)避匯率風險 9
2.2.8注重并購后的整合 10
2.3結合中石油海外并購的案例的財務風險分析 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)海外并購常見財務風險 11
2.3.3防范財務風險的措施 12
3未來企業(yè)跨國并購的發(fā)展走向和趨勢 14
3.1世界經濟全球化大環(huán)境與體制 14
3.2展望未來企業(yè)跨國并購的財務風險 14
結論 15
參考文獻 16
致謝 18