试论上市公司并购财务风险问题_学位论文.docVIP

延 边 大 学 （ 二 〇 一 五 年 五 月 摘 要 经过近三十年的改革开放，我国作为世界第四大经济强国，已经建立起比较完善的市场经济体制。但是，目前我国经济仍处于转轨时期，属新兴市场国家。众多公司在适应市场经济的能力、长期稳定经营、严谨的财务管理、长期性的研发力量、产品的更新换代、持续增长等方面，往往还不够理想。在经营过程中，往往出现过失或者需要战略调整，还需要借助兼并、收购等手段来进行产业和产权调整，因而，在我国，并购整合的潜力很大。目前，国内企业和上市公司也普遍存在一个如何做大做强的问题，从客观上提出了加快行业内部、行业之间整合步伐的要求。与国际上的知名公司相比，从竞争的角度审视中国上市公司，最明显的劣势是资本规模和产出规模偏小、技术水平和管理水平偏低。为了迅速做大做强，通过兼并收购这一有效途径，造就中国的大型跨国公司，构建中国自己的百年品牌，不失为一种好途径。因此，加快并购步伐，尽快做大做强是中国上市公司的客观要求。本文基于这个背景下，首先阐述了有关上市公司并购财务风险的基本概念及相关理论问题；进而深入分析了上市公司并购中财务风险的种类与成因；最后，提出了上市公司并购风险的防范和控制的若干对策建议。 关键词：上市公司；并购；财务风险；防范策略 Abstract After nearly 30 years of reform and opening up, China as the worlds fourth largest economy, has established a relatively perfect market economy system. However, at present, Chinas economy is still in transition, belongs to the emerging market countries. Many companies in the ability to adapt to market economy, long-term stable operation, strict financial management, long-term research and development strength, upgrading of products, continued growth, etc., often is not ideal enough. In the process of operation, often appear fault or need strategic adjustment, also need through mergers, acquisitions and other means to carry out industry adjustment and property, therefore, in our country, there is great potential merger integration. At present, the domestic enterprises and listed companies are generally exists a problem of how to become bigger and stronger, from objectively put forward to speed up the pace of integration between industry and industry requirements. Compared with the international well-known company, from the viewpoint of the competition of Chinas listed companies, the most obvious disadvantage is the small capital scale and production scale, technical level and management level is low. In order to quickly become bigger and stronger, through merger and acquisition, the effective ways to make Chinas large multinational company, to build Chinas own brand in one hundred, is