The Research Of Finance Risk Control In Enterprise M & A

The M & A is an efficient path which could expands the market and enhances competitive ability and economic efficiency, but it will bring the very great income, following the very high risk. In the background of current economy M & A, the article analysis Chinese enterprise M & A's development condition, the article elaborated the enterprise M & A financial risk's control correlation theories. The article analyzed the definition of M & A,the M & A risk,the M & A financial risk and financial risk control in enterprise M & A. It proposed the financial risk including: the target enterprise evaluation risk,financing risk and payment risk, then according to the different reason I propose the specific measure of guarding the risk. The target enterprise evaluation risk is mainly caused of the information which transmits to the M & A enterprise is incomplete and inaccurate. Financing risk is mainly because of the improper way of financing and the improper structure of financing, and finally probably caused the defeat of the M & A. The payment risk is different to the different payment pattern. The management of control the risk of the target enterprise evaluation is including: clear the content of the target enterprise evaluation; correctly choice the goal enterprise, improve the condition of the information which is incomplete and not correct; consummation the method of assessing the value of the target enterprise and obtains the reasonable value; assess the coordination value in the process of M & A. The management of control the risk of the financing is including: analyze each financing way's cost; choose the suitable M & A financing way; plan and choose the reasonable financing structure. Finally the article has given an example of China Ping An purchase Fu Tong, analyzed the risk in the process of Ping An purchase Fu Tong, and proposed the management of controlling the risk of M & A.This article innovation include: defining enterprise M & A financial risk in the way of financial decision; The financial risk is a kind of uncertainty which is caused by enterprise M & A fixed price decision, financing decision, and payment decision. It analyzed the financial risk of goal enterprise value appraisal and its control in the way of information asymmetrical; It has been clear that the enterprise value appraisal content the enterprise independent value and the coordination value, proposed coordination value estimate model option model of the enterprise M & A.