并购中的财务风险管理研究--以D企业为例

Research on Financial Risk Management in Mergers and Acquisitions--A Case Study of D Company

并购包括兼并与收购两层含义。并购作为企业追求规模经济、实现多元化发展的手段,在我国资本市场中屡见不鲜。然而,并购双方会因为企业文化、制度管理、内部环境等因素带来并购过程的阻碍,并购过程中的融资、支付方式会带来生产经营活动中的财务风险。因此,研究企业在并购中因融资方式的选择而面临的财务风险,可以为后续企业进行并购活动带来参考。

Merger and acquisition includes two meanings:annexation and acquisition.As a means for enterprises to pursue economies of scale and realize diversified development,MERGERS and acquisitions are common in China’s capital market.However,due to corporate culture,institutional management,internal environment and other factors,both parties may be hindered in the process of MERGER and acquisition,and financing and payment methods in the process of merger and acquisition will bring financial risks in production and operation activities.Therefore,the study of the financial risks faced by enterprises in m&a due to the choice of financing methods can provide reference for the subsequent m&a activities of enterprises.