| In order to achieve national strategy on energy "going out", Chinese petroleum enterprises take a courageous action of merger and acquisition outside Petroleum assets and foreign petroleum companies. However, the Chinese petroleum enterprises cross-border M & A faced political, economic, legal, cultural and many other factors, which leads few successful cases. Therefore, research on the risk of China's petroleum enterprises when they cross-border M & A, establish a appropriate risk prevention mechanisms of Chinese enterprises for their overseas development,has become one of the urgent topics to solve.Basing on previous research on M & A risk Academics, I think there are some deficiencies:A. Petroleum enterprises in China M & A risk analysis less quantitative than qualitative; B. Qualitative analysis of the risk for a lack of process identification; C. The quantitative analysis always uses either the comprehensive assessment of gray model, or the fuzzy comprehensive evaluation model. So the author put forward a more systemic method on risk management:using the gray comprehensive evaluation method to select the M & A targets in the acquisition of the strategic objectives of the selection phase, using fuzzy comprehensive evaluation model in the implementation and M & A consolidation phase, emphasizing how the various risks affecting cross-border M & As, while giving the size of warning risk all the time.The frame of the article is as follows:Partâ… :Introduction. This paper briefly introduces the part of the paper's writing background, described the enterprise transnational M&A drivers in china and the high risk of Chinese petroleum research situation of transnational M&A, the writing probably describes the frame and content.Partâ…¡:Review. Introduced the methods of M & A risk identification and assessment.Partâ…¢:China's petroleum enterprises risk of cross-border M & A Analysis. This section mainly describes the reason of China's petroleum enterprises transnational M & A, and decades of hard journey cross-border mergers and acquisitions of Chinese petroleum enterprises, then carry out SWOT analysis of cross-border mergers and acquisitions for the Chinese petroleum enterprises, from the strengths, weaknesses, opportunities and threats four aspects to understand China petroleum transnational enterprises of strategic acquisitions and our own position, pave the way for the subsequent risk analysis. Partâ…£:In this partial,the article naturally and qualitatively analysis China's petroleum high risk of transnational M&A. Firstly analyses the risk of target selection stages and adopt the unrelated comprehensive evaluation method in minimal risk of selected targets, into the next program. In M&A implementation stage, This article analysis the risk and describes influence degree of risk and various sizes of overall risk in fuzzy comprehensive evaluation method. All these provide effective risk management methods. Firstly naturally analysis quantitatively analysis in Merger agreement stage the same as stage of integration, and then using a fuzzy comprehensive evaluation method, a risk management methods of risk management from the Angle in petroleum enterprise.Partâ…¤:The innovation and the lack of this paper, not only reviewed views of the paper, but also a rational view of inadequacy, that help me find the future research direction. |
