摘 要：并购作为一种增长方式，在当今经济社会中越来越常见，它在企业的经济增长战略中发挥着越来越大的作用。然而，企业并购中大都存在着或多或少的风险，主要表现在财务风险方面。而财务风险方面存在的问题，集中体现在对被并购企业的价值难以评估、融资渠道不宽广、资金支付方式有欠缺和并购后风险没得到有效整合等方面。我现在针对国信企业并购中产生的财务风险，以及其造成此风险的影响因素进行研究，同时，对财务风险的成因给予分析，提出了相应的防范措施，希望对其他企业顺利并购有所帮助，力争保证企业并购活动得以顺利进行。65087

毕业论文关键词：企业并购，财务风险，问题，防范对策

Abstract：Mergers and Acquisitions(M & A) in today's economy and society are becoming more common, it is used as a growth in the corporate growth strategy to occupy an increasingly important role. However, most of the M & A is more or less there is a risk, mainly in the financial risk. The existence of financial risk aspects, embodied in the value of the acquired company is difficult to assess, not broad financing channels, after a lack of funds to pay the way mergers and acquisitions have not been effectively integrated risk and so on. Financial risk for the letter I now generated in mergers and acquisitions, as well as its impact on the risk factors for this study, while the causes of the financial risk of giving analysis, the corresponding preventive measures, acquisitions of other companies want to successfully help, strive to ensure the smooth conduct of mergers and acquisitions activity.

Key Words：Mergers and Acquisitions, financial risk, problem, prevention measure

目  录

1  引言 4

2  企业并购与财务风险的理论概述 4

2.1  企业并购的概念 4

2.2  企业并购的发展 5

2.3  企业并购的财务风险概念 6

2.4  企业并购的财务风险特征 6

3  国信企业概况介绍 7

3.1  国信企业规模 7

3.2  国信企业最新业务活动 7

4  国信企业并购的必要性 8

4.1  国信企业并购的原因 8

4.2  国信企业并购的目的 9

5  国信企业并购存在的财务风险 9

5.1  对被并购企业的价值难以评估 10

5.2  支付方式的不恰当 10

5.3  资金运行的方式不合理 10

5.4  并购后的整合风险 10

5.5  外部环境造成的风险 11

6  如何防范企业并购的财务风险 11

6.1  做好可行性分析 11

6.2  加强营运资金的支付与管理 11

6.3  充分发挥中介机构作用 11

6.4  加强财务整合与管理 12

6.5  建立完善的市场体系 12

结 论