The Case Study Of Financial Risk Management With Wooboo Media's M & A

The high-tech SMEs with strong innovation ability have become an important driving force for the future economic development of China.However,because of their limited financial strength and weak ability to resist risk,they are facing with a serious problem of financing.In order to provide a convenient financing platform for the high-tech SMEs,NEEQ was set up in China.Attracted by the powerful financing function,many high-tech SMEs have landed on NEEQ.By the support of the capital market,they have developed rapidly through endogenous growth and M&A.However,due to the lack of experience of NEEQ-listed companies,the imperfection of market rules and the conflicts of interest among all parties,there are facing great financial risks in the process of M&A.NEEQ-listed companies urgently need to establish a systematic financial risk management system for M&A in order to better control and prevent the financial risks in the M&A of NEEQ-listed companies.The thesis divided into two parts:conceptual analysis and case study.In terms of conceptual analysis,the thesis summarizes the relevant research results of financial risk management at home and abroad,defines the concept of financial risk of M&A and the financial risk management of M&A,and proposes financial risk management framework for M&A based on the characteristics and risk performance of NEEQ-listed company's M&A.In terms of case study,the thesis selects Wooboo Media's merger as the research object,combined with the financial risk management framework,use the expert investigation method to recognize financial risk of M&A;use AHP-FCE to establish the evaluation of the financial risk of M&A;and then take precautions and control according to the identified risk.Finally,on the basis of case study,the thesis summarizes the experience of Wooboo Media's merger:making strategies and selecting target businesses rationally,rationally transferring pricing risks,and making reasonable use of rules to avoid financing risks.Then the thesis put forward relevant improvement suggestions,and provide reference for NEEQ-listed companies' M&A,for example,establish a systematic financial risk management system for M&A,and strengthen the use of risk management tools.