企业并购的财务风险控制研究分析以戴尔并购EMC为例 会计学专业VIP免费

摘要在当今经济全球化的市场背景下，我国市场经济不断深化，竞争日益激烈，我国企业的并购活动也日趋活跃，但仍有很多企业在谋求并购的发展中未能达到预期的效果，甚至直接导致并购的失败。由此可见，并购会对其企业财务框架造成重大影响，同时会带来一系列财务风险，比如，被并购企业价值评估风险、融资风险、流动风险和整合风险等等。本文主要围绕企业并购的财务风险展开研究，主要通过文献分析法、案例分析法和数据图表分析法等，首先介绍企业并购及其财务风险的基本相关理论基础；其次通过介绍戴尔并购EMC的案例，并对其并购过程中的产生的财务风险、成因以及控制手段进行分析；最后分析总结得出结论。总结出有效的防范措施，制定合理的并购战略，提升对企业并购的风险评估和控制能力。关键词：企业并购；财务风险；风险控制ABSTRACTUnderthebackgroundofeconomicglobalization,thedevelopmentofthemarketeconomyisgraduallyimproving,andthecompetitionisbecomingincreasinglyfierce,andtheactivitiesofmergers&acquisitionsamongChina'senterprisesmergersandacquisitionsarebecomingmoreandmoreactive,buttherearestillmanycompaniesfailedtoachievetheanticipatedeffectinseekingthedevelopmentofM&A,eventhefailureofmergersandacquisitions.Itcanbeseenthatmergersandacquisitionswillhaveasignificantimpactonthefinancialframeworkoftheenterprise,butalsobringaseriesoffinancialrisks,suchastheriskofassessmentofthetargetenterprisevalue,financingrisk,liquidityriskandintegratingriskandsoon.Thispapermainlyfocusesonmergersandacquisitionsoffinancialriskresearch,combinedwithliteratureanalysis,caseanalysisanddataandchartanalysis.Firstly,introducethebasictheoryoftheenterprisemergersandacquisitionsandfinancialrisk;secondly,throughtheintroductionofDELL'sacquisitionofEMC'scase,analysisthecausesofthefinancialriskandcontrolmeasuresDELLchosethroughthemergerprocess.Finally,reachaconclusion.SumuptheeffectivepreventivemeasuresanddecideonareasonablestrategyofM&A,thenimprovingthecapabilityofriskevaluationandcontrollingofChineseenterprises.Keywords:Mergers&Acquisitions;Financialrisk;Riskcontrol目录1．绪论...................................................11．1研究背景..................................................11．2选题意义..................................................11．3研究内容..................................................11．4研究方法..................................................22．文献综述...............................................22．1国外研究现状..............................................22．2国内研究现状..............................................32．3文献述评..................................................43．企业并购及财务风险理论基础.............................53．1企业并购的概念、类型......................................53．1．1企业并购的概念.........................................53．1．2企业并购的动因.........................................53．2企业并购财务风险的主要类型................................73．2．1并购前的评估风险分析...................................73．2.2并购中的融资支付风险分析...............................83．2.3并购后的经营管理风险分析...............................94．并购案例分析............................................94．1案例介绍：戴尔收购EMC.....................................94．1．1戴尔背景介绍...........................................94．1．2EMC背景介绍...........................................104．1．3戴尔并购EMC过程......................................104．2并购案例财务风险分析..........................