8918225_杜梦月_医药企业并购财务风险控制研究-以华润三九并购桂林天和为例_论文2稿--已修改.docx

V摘要当前我国经济发展迅速且随着全球化经济速度的不断加快给了各行各业发展的契机企业的发展形式也逐渐向着多样化发展而企业之间并购重组也是一种十分重要的投资方式同时也是企业扩大自身规模以及提高其竞争力的有效途径。但是企业并购重组并不是一蹴而就的事情除了需要调整自身的内部资源以外还需要寻找合适的资源并将各种资源进行合理的配置以此来降低交易成本和投资风险。因此企业在进行重组并购过程中需要对财务风险进行控制以此来最大限度的提升企业的重组质量本文以企业并购的财务风险研究为目的以华润三九并购桂林天和为案例进行分析探究其在并购过程中存在的财务风险主要包含价值评估风险、融资风险、支付风险以及财务整合风险并从制定财务整合方案、统一财务系统、制定经营战略以及完善激励机制等方面给予控制各类并购风险的建议。从而为我国企业并购财务风险控制提供理论与实践的参考依据。关键词：华润三九；桂林天和；并购；财务风险控制ABSTRACTThecurrentrapideconomicdevelopmentinourcountryandasthespeedofeconomicglobalizationacceleratinggavechanceinallwalksoflifedevelopmententerprisedevelopmentalsograduallytowarddiversifieddevelopmentmergeracquisitionandreorganizationamongenterprisesisalsoakindofimportantinvestmentwayaswellasenterprisesexpandtheirscaleandtheeffectivewaystoimproveitscompetitiveness.Howevermergersandreorganizationsofenterprisesarenotaccomplishedovernight.Inadditiontoadjustingtheirinternalresourcestheyalsoneedtofindappropriateresourcesandreasonablyallocatevariousresourcestoreducetransactioncostsandinvestmentrisks.ThereforetheenterpriseintheprocessofrestructuringmergersandacquisitionsneedtocontrolfinancialriskinordertomaximizetheimprovingthequalityofenterpriserestructuringbasedonthepurposewastoprovidereferenceforenterprisemergersandacquisitionsoffinancialriskforCRClump-sumacquisitionofguilinandcaseanalysisfoundthatitexistsintheprocessofmergersandacquisitionsoffinancialriskmainlycontainsthevalueevaluationofriskfinancingriskandpaymentriskandfinancialintegrationrisksandfromfinancialintegrationplanformulationtheunifiedfinancialsystemformulatebusinessstrategyandimprovetheincentivemechanismtocontrolallkindsofaspectssuchastheriskofmergersandacquisitionsadvice.ThereforeitprovidestheoreticalandpracticalreferenceforthefinancialriskcontrolofmergersandacquisitionsinChina.KEYWORDS:Fin