Research On The Control Of Financial Risk About Cross-border Mergers And Acquisitions Of Enterprises Based On AVIC M&A AG

Since the reform and opening up,the rapid development of economic globalization.In order to allocate assets on a global scale,expand the scale of enterprises,cross-border mergers and acquisitions has become a very common means of business.At the same time,enterprises to implement cross-border mergers and acquisitions may also be due to the huge risk of failure.The main reason for failure is that the risk control of the enterprise is not in place.In terms of the types of risks,cross-border mergers and acquisitions face political risks,cultural risks,legal risks,and financial risks.As a measure of the value of the amount of risk,financial risk is an important factor affecting the success of cross-border mergers and acquisitions.Based on the existing research,this paper studies the financial risk of each stage according to the risk identification-risk analysis-risk assessment-risk control.First,it is the identification process.In this paper,the process of cross-border mergers and acquisitions as the starting point,taking into account the whole process of cross-border mergers and acquisitions,cross-border mergers and acquisitions financial risk for specific classification,and its impact factors were analyzed.Second,the use of quantitative evaluation methods to assess the financial risks facing cross-border mergers and acquisitions,which is the key to improving the success rate of mergers and acquisitions.On the basis of considering various quantitative evaluation methods,this paper uses the fuzzy comprehensive evaluation method and the analytic hierarchy process to evaluate the financial risk of cross-border M&A,constructs the fuzzy comprehensive evaluation model of the financial risk of cross-border M&A,and puts forward the general Risk control measures.Finally,the risk assessment of China Aviation Aircraft M&A AG is carried out in the form of case application,and the risk control measures are summarized.This paper has the following research results:(1)put forward the steps to control the financial risk of cross-border M&A,that is,along the logical chain of "risk identification-risk analysis-risk assessment-risk control",targeted risk control(2)This paper classifies the financial risks of cross-border M&A into three categories:pricing risk,financing risk,debt risk and financial integration risk,and combines the characteristics of cross-border M&Factors Influencing the Financial Risk of Multinational M&A Faced by Enterprises.(3)Through the selection of influencing factors,this paper constructs the financial risk evaluation system of transnational M&A of enterprises with universal applicability.(4)The enterprise can combine the analytic hierarchy process and the fuzzy mathematics method to evaluate the financial risk of the transnational M&A of the enterprise,and carry out the risk control from the four dimensions of pricing,financing,debt service and financial integration.(5)China Aviation aircraft acquisition AG’s pricing risk and financial integration risk is high,should be from these two aspects of key control.The innovation of this paper is to study the control of financial risk of transnational mergers and acquisitions from the perspective of cross-border mergers and acquisitions.Through the analysis of risk identification and influencing factors,the comprehensive evaluation system of financial risk of transnational M&A is established,and then the quantitative evaluation method is used to evaluate the risk size,and then the financial risk of transnational M&A is controlled by the evaluation result.This is a practical risk control process.Enterprises can operate this process intuitively evaluate the size of the financial risk they face,to achieve key prevention and control.