企业并购的协同效应.doc

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企业并购的协同效应
——基于阿里巴巴并购雅虎中国案例研究
学生姓名:
学号:
班级:
专业:财务管理
学部:公共管理
指导教师:
二○一一年六月
企业并购的协同效应
——基于阿里巴巴并购雅虎中国案例研究
SynergyEffectsofEnterpriseMergerandAcquisition——CasestudyonAlibabaMergingandAcquiringYahooChina
学生:班级:学号:
学部:公共管理专业:财务管理
指导教师:职称:
工作单位:
毕业论文完成时间:自2021年11月
至年月
摘要
作为市场经济中一种重要的经济现象,并购是企业整合资本运作的核心内容,也是实现并购双方企业优化配置的重要手段。
实现协同效应,是企业并购、整合后的首要,也是最基本的目标。本文以国内外理论研究及分析为基础,以会计学,管理学,市场营销学等专业课程为指导,对企业并购的协同效应进行分层次的全面分析,将协同效应具体划分为财务协同效应,管理协同效应、经营协同效应及无形资产协同效应,加之一一分析,然后通过具体事件——阿里巴巴并购雅虎中国为案例,分析其在实现协同效应中的出色之处与不足,以便更清晰直观的分析协同效应的实现,最后探讨企业如何实现协同效应及企业并购现状与改进措施并做出总结。
关键词:企业并购;协同效应;财务分析
Abstract
Asanimportanteconomicphenomenainamarketeconomy,mergersandacquisitionsarecoreelementsofenterpriseconsolidationofcapitaloperation,aswellasimportantmeanstoachievemergingtheirenterprisestooptimizetheconfiguration.Realizationofsynergies,corporatemergersandacquisitions,andconsolidatedthefirst,andmostbasicgoals.ThistoathomeandabroadtheoryresearchandtheanalysisforFoundation,toaccounting,management,marketmarketinglearn,professionalcoursesforguide,onEnterprisemergersandacquisitionshowimplementationcollaborativeeffectforminlevelsoffullanalysis,willcollaborativeeffectspecificDivisionforfinancialcollaborativeeffect,managementcollaborativeeffectandoperatingcollaborativeeffect,coupledwiththemonebyoneanalysis,thenthroughspecificevent--AlibabamergersandacquisitionsYahooChinaforcase,analysisitsinimplementationcollaborativeeffectintheofexcellentofDepartmentandinsufficient,tomoreclearintuitiveofanalysiscollaborativeeffectofimplementation,lastthroughfinancialanalysis,onenterpriseimplementationcollaborativeeffectmadesummary.
Keywords:MergerandAcquisitions;synergyeffect;financialanalysis
目录
一、绪论„„„„„„„„„„„„„„„„„„„„„„„„„„„„„1(一研究背景及研究意义„„„„„„„„„„„„„„„„„„„„„1
1.研究背景„„„„„„„„„„„„„„„„„„„„„„„„„„„1
2.研究动机„„„„„„„„„„„„„„„„„„„„„„„„„„„1(二研究思路框架及创新点„„„„„„„„„„„„„„„„„„„„2二、相关理论及文献综述„„„„„„„„„„„„„„„„„„„„„„3
(一企业并购„„„„„„„„„„„„„„„„„„„„„„„„„„3
(二协同效应„„„„„„„„„„„„„„„„„„„„„„„„„„4
1.协同效应定义„„„„„„„„„„„