Financial Risk Of Chinese Enterprises In Cross-border M&A

In recent years,with the acceleration of China's economic transformation and the support of national policies for Chinese enterprises' transnational mergers and acquisitions,advanced manufacturing enterprises in developed countries,more and more Chinese enterprises are involved in cross-border mergers and acquisitions.Because cross-border mergers and acquisitions are usually carried out in two or more countries.There are differences between their political culture environment,legal supervision environment and market environment,so information asymmetry often occurs.Therefore,compared with the cases have more risks.Moreover,transnational mergers and acquisitions are generally large,and the risks associated with them are more than domestic mergers and acquisitions.Among the many risks,financial risks have a significant impact on the whole process are not accurate,because the valuation of financing improper failure,visible recognition,how to more effectively assess and control the financial risk in the prevention of transnational financial risk is particularly important.This paper choose M &a beautiful 2016 KUKA Germany company as the research of financial risk of M &a case.First introduces the research status at home and abroad and the related theory and the financial risk of transnational mergers and acquisitions are defined;the risk of M &a beauty again KUKA were identified according to merger in different stages,and the construction level evaluation model,based on the model of the United States and the purchase of KUKA financial risk to quantitative evaluation.According to the identification and assessment results of beauty of cross-border mergers and acquisitions KUKA,put forward the corresponding risk control suggestion.The contribution of this paper is to cross-border mergers and acquisitions and financial risk together were studied,according to the specific process of beauty beauty KUKA various mergers and acquisitions stage are identified,and through constructing a 3 level indicators,8indicators in level two level evaluation index system,analytic hierarchy method and fuzzy comprehensive evaluation method to establish the evaluation model of mergers and acquisitions for the United States to quantify KUKA,more beauty in the process of mergers and acquisitions KUKA financial risk to follow.At the same time,the identification and evaluation of results with the financial risk of transnational mergers and acquisitions KUKA beauty,puts forward a series of cross-border mergers and acquisitions of financial risk prevention and control recommendations,in order to prevent and control the transnationalfinancial risk and provide the reference for Chinese enterprises.