我国企业跨境并购情况及风险防范研究--以B公司跨境并购为例

Study on Risk Prevention of Outbound Acquisition of Chinese Enterprises--Taking A Company's Outbound Acquisition as an Example

当前我国海外投资的企业数量和交易金额不断增多,采取协议并购和增资并购的企业数量最多。在11种支付方式中,我国企业选择最多的是现金支付。主要面临信息不对称风险、估价风险、财务风险等。通过分析B公司跨境并购案例,提出改善信息的不对称状况,降低目标企业的估价风险,加强营运资金管理,选择合理支付方式,降低财务风险等对策建议。

By analyzing the current situation of cross-border M&A of Chinese enterprises,the number of overseas investment enterprises and transaction amount are increasing,and the number of enterprises adopting agreement M&A and capital increase M&A is the largest.Overseas M&A mainly has 14 kinds of M&A purposes,most of which are for horizontal integration and diversification strategy,and there are 11 kinds of payment methods.It mainly faces the risk of information asymmetry,valuation risk,financial risk and so on.By analyzing the cross-border M&A case of company B,this paper puts forward some management countermeasures and suggestions,such as improving the information asymmetry,reducing the valuation risk of the target enterprise,strengthening the working capital management,selecting reasonable payment methods,and reducing the financial risk.