Research On Financial Risk And Control In Enterprise Merger And Acquisition

In the modern enterprise management,as an important element of financial mergers and acquisitions,finance has been involved throughout the acquisition practice and seriously affects the result of merger activity,especially in the valuation of target enterprise before merger,in the financing and payment of mergers and acquisitions,and the effective integration after the merger.Treatment of financial risk directly influences the success or failure of merger activity.Therefore,the financial risk is particularly important in M & A activity.If the enterprise does not make accurate judgments when facing the financial risk in the merger and acquisition,or take appropriate measures,it will lead to financial difficulties,triggering M & A crisis.In the course of the study,the research methods include literature review,induction,the information retrieval,case analysis,survey analysis,method of qualitative analysis and quantitative analysis and so on.According to the literature research,this thesis defines the related concept of merger and acquisition.Moreover,based on M's merger of Y,the financial risk has been summarized in terms of pricing,financing,payment and integration risk,and the causes of financial risk has also been analyzed.Secondly,based on the basic theory of M & A financial risk,this thesis establishes the evaluation index system of financial risk,and constructs a comprehensive evaluation model in light of fuzzy mathematics to evaluate the merger and acquisition.Finally,the thesis summarizes the countermeasures of preventing financial risks,putting forward some suggestions on the risk control measures.The main points of this thesis are as follows:In the process of enterprise merger and acquisition,the financial risk is the most important.In order to reduce the financial risk,it is necessary to analyze and study the financial risk.In the course of this study,the financing and payment risk,valuation risk of target enterprise,financial integration risk after merger has become the main financial risks,which will exert a decisive impact on the financial risks of enterprise merger and acquisition.The main factors that influence the M & A financial risk in pricing risk,financing risk,payment risk and merger integration risk,which are very critical in the whole process of mergers and acquisitions.According to the fuzzy mathematical model of comprehensive evaluation of M's acquisition of Y company,the integration risk and financing risk become the main factors affecting the financial risk,has great influence on the financial risk control of the M & A case.Through the analysis of merger theory and evaluation of financial risk in M's acquisition of Y company,combined with the present situation of enterprise financial risk in China,this thesis holds that perfect prevention measures and mechanism should be constructed in terms of valuation risk of target enterprise,financing risk,payment risk and integration risk.