The Coal Industry Mergers And Acquisitions Of Financial Risk Assessment And Prevention Research

Coal is the basis energy in our country, since the beginning of the opening up policy, the development of coal industry in China has made remarkable achievements.At present, China's coal industry still faces many difficulties, such as serious environmental pollution, the waste of resources, low industrial concentration,production safety accidents frequently occurred, etc.In this background, merger and acquisition is an effective way from big coal country to coal power. During the period of "much starker choices-and graver consequences-in" period, accelerating the transformation and upgrading of coal industry is imminent, promoting merger and reorganization of coal mining enterprises, promoting the healthy development of modern coal industry. However, mergers and acquisitions bring benefit for coal mining enterprises,at the same time also inevitably bring high risk, especially the financial risk, financial risks run through the merger and acquisition activities, is the key factor that affects the success of mergers and acquisitions.This paper use the combination of qualitative and quantitative analysis method.First,defining the connotation of the financial risk of m&a, expounding the types and reasons of m&a financial risk, according to the enterprise merger and acquisition value evaluation risk, financing risk, payment risk and financial integration risk four categories of indicators to analyze the financial risk of the coal industry mergers and acquisitions. Secondly, detailed introducing to the development of coal industry present situation and the basic situation of m&a,according to its own characteristics of the coal industry, construct the m&a financial risk index evaluation system, use the yaahp software, combined with the Delphi Method, analytic hierarchy process(AHP)and fuzzy comprehensive evaluation Method to evaluate the financial risk of the coal enterprise mergers and acquisitions, and introduces the specific case of mergers and acquisitions for quantitative analysis. Finally, put forward specific proposals and measures for the problems of coal industry mergers and acquisitions financial risk prevention and control, in order to reduce the risk of coal enterprise mergers and acquisitions.We should strengthen the study of the coal industry before m&a, such as the selection of target enterprise,the value assessment of target enterprise, the prevention and control of financing risk and payment risk, the integration of financial risk, etc.