我国民营企业并购上市公司偏好诱因与并购风险分析

Merger and Acquisition of Private Enterprises for Listed Companies in China:Preference and Risks

企业并购是现代市场经济的一个重要的现象和发展趋势。民营企业并购上市公司行为在我国企业并购市场中异军突起。本文从宏观和微观两个方面分析了我国民营企业并购上市公司的动因,从外部和内部两个方面分析了不同动因下上市公司并购过程中存在的风险,最后从并购目标的选择、并购方案的制定、并购关系的协调、中介机构的选择和整合措施的制定等几个方面找出规避风险的有效措施和方法。

Merger and acquisition of enterprises are marked phenomenon and development tendency in modern market economy.In China,private enterprises have become a new force in enterprise merger and acquisition.From both macroscopic and microscopic aspects,the author analyzed the reasons why private enterprises merger and acquire listed companies.Besides,external and internal risks in the merger and acquisition are investigated.Finally,effective methods to avoid the risks are proposed from aspects such as target selection,plan formulation,relationship coordination,agent institution selection and conformity measures are discussed.