Research On Financial Risks In Mergers And Acquisitions Of Enterprises

M&A is an effective way for enterprises to grow and develop.It is an important way for enterprises to improve their management,enhance their strength and improve their economy.For the promotion of GDP is also playing a positive role in the national policy level has greatly promoted the development of mergers and acquisitions market fiery.But M & A is a high risk of commercial assets operation behavior,if properly handled.It may bring huge economic benefits to the enterprise.If the operation is not appropriate,it will make the parties into financial difficulties,a dilemma,and difficult to extricate themselves.The whole process of mergers and acquisitions is long and complicated,with huge financial risks.How to prevent this kind of financial risk has become the research direction of the M & a market.Coal enterprises in recent years due to the price of the product market and weaker market downturn,overcapacity,resulting in a large number of enterprises has been in a low profit or loss of a point,the coal chemical industry to find a new path to get out of trouble.The chemical industry has a high margin,can greatly enhance the profits,to achieve the effect of profitability,but also to enhance the overall strength of the enterprise,which attracted a large number of coal companies want to upgrade.This article is based on the idea of coal enterprises mergers and acquisitions of chemical enterprises,selection the case of the merger and acquisition of Yuan Xing energy.Based on the existing theories of M & a financial risk,this paper comprehensively studies the recent research results of scholars at home and abroad.Beyond the source of chemical energy in mergers and acquisitions as a case,the acquisition of both the background and acquisition of in-depth analysis,and the implementation process and decision by the M & A were described in detail.For the possible financial risks,some of the prevention and control decisions made by far Yuan Xing energy are also discussed and analyzed in detail.In the case on the basis of the value of the use of Z early warning model to analyze the Yuan Xing energy is facing the potential financial risks in the completion of the acquisition,in addition to the financial index analysis,to analyze the Yuan Xing energy after the acquisition of the debt risk,earnings risk and operational risk,and puts forward some potential risks faced by the Yuan Xing energy according to several aspects of this index.Finally,several aspects of the integration,and ultimately found that the success of the success of the energy to prevent some of the potential risks.Finally,based on the case analysis,combined with some prevention and control measures of Yuan Xing energy,financing and payment of the pre-merger asset value evaluation,mergers and acquisitions financial integration after the three stage,put forward the corresponding measures to prevent financial risks,strengthen the ability to resist financial risks for enterprises.Enterprise mergers and acquisitions to strengthen risk prevention awareness,to better achieve synergy,provide the reference to construct a scientific and reasonable risk prevention mechanism,in order to avoid making the same mistake again in future.