The Research On Financial Methods Of China Enterprise M & A

With the development of market economy, Mergers and Acquisitions(M&A), as an important way for the enterprises to enhance their competitiveness and access the development, is playing an more and more important role. M&A, as a core method of enterprise capital operation, involves the flow of large amount of assets, therefore strong capital supports play an important role in a successful M&A case and financing becomes a key issue in M&A. Choosing effective M&A financing methods, reducing M&A financing cost,controlling financing risk are the most influencing points those enterprise embarking on M&A concentrated their attentions on. In our country, in the study of Chinese M&A financing problems, because the market economy system is still in the early stages of development and the financing system is still morbidity, we must make it be integrated with Chinese actual conditions, and make specific analysis and judgements on the base of foreign experience for reference.Based on particular introduction and deep analysis of M&A financing theories and financing methods, this thesis makes systematic research for financing methods our companies choose for M&A nowadays. From Micro-enterprise level and the macro policy level, we discuss the financing problems in the use of financing methods at this stage. As the capital market development in China is not perfect at this stage and the financial system is not morbidity, the M&A financing channels in China are not clear and the financing methods are haploid. M&A financing of non-standard operations and unreasonable government interference also occurs.From the system point of view, this paper combines the macro and the micro. When Micro-enterprise choose financing methods, it should combine the characteristics of financing methods, consider the different risks and costs of financing methods and find the optimal financing options by the lowest cost and the minimum risk combined with the actual situation of the enterprises. From a macro policy level, this paper points a set of complete and innovative means for financing method in China at this stage.