我国矿产企业海外并购融资模式探析

The Financing Mode of Overseas Mergers and Acquisitions of Chinese Mineral Enterprises

并购融资模式的选择对中国矿产企业海外并购起着至关重要的作用,通过分析中国矿产企业的并购融资现状以及融资方式的选择,发现目前中国矿产企业海外并购融资渠道比较广泛,但是主要是银行信贷,新的融资模式运用不足,亟待完善;通过中国矿产企业海外并购常用融资模式的成本-风险分析以及对权衡理论的修正,得出中国矿产企业海外并购融资时应该选择的融资模式,并且针对支付方式等问题提出一些融资建议。

It plays an important role in overseas mergers and acquisitions （M＆A） of Chinese mineral enterprise to select financing mode of M＆A. By analyzing the status quo and the choice of financing mode of M＆A of Chinese mineral enterprises, the authors find out that the financing channel is wide, but most of them are bank credit. The use of new financing mode is insufficient and should be proved. By using cost - risk analysis on the usual financing mode of overseas M＆A in Chinese mineral enterprises and the correction of trade - off theory, the financing modes that can be used by the enterprises in overseas M＆A are found out, and some suggestions on payment terms are put forward.