跨国并购融资规划中的分层施策

Different planning on different levels in cross-border M&A financing

在激烈的跨国并购竞争中,融资是企业的核心竞争力之一,快速筹集并购资金、降低资金成本是决定企业并购成功的关键因素。跨国并购融资应该系统思考与分层施策。本文从筹资渠道的建立与选择、融资成本的优化手段、融资风险的识别与管理、资金收付的保障体系等多个层面对跨国并购融资规划进行了分层施策的框架性梳理及案例分析,以期丰富跨国并购融资决策原则逻辑,也为更多中国企业"走出去"的融资安排提供新的借鉴。

This paper concludes a framework combing the establishment and selection of financing channels,the optimization means of financing costs,the identification and management of financing risks,and the guarantee of capital receipt and payment,in order to enrich the principles and provide new ideas for financing arrangements of crossborder M&A to help more Chinese enterprises"go global"