Research On Financial Risk Management And Control In Corporate Mergers And Acquisitions

Corporate mergers and acquisitions are a means for companies to expand market share and expand their business scope.In recent years,more and more domestic enterprises have begun to carry out frequent M&A activities.However,due to the short history of China's mergers and acquisitions and insufficient experience;the theoretical research on mergers and acquisitions is not enough;coupled with the adjustment of national macro policies,there are many risks in the process of mergers and acquisitions in China,and financial risks are the most prominent.Therefore,analyzing and researching the financial risks and control measures in mergers and acquisitions has significant significance for improving the success rate of mergers and acquisitions in China.In July 2017,Sunac China's merger and acquisition of Wanda Culture Travel started slowly.Therefore,the number of sub-mergers and acquisitions,the amount of which is large,and the duration of the merger,are called "Century Mergers and Acquisitions" in the industry.This article uses Sunac China's merger and acquisition of Wanda Cultural Tourism as an example to study the financial risk management and control in corporate mergers and acquisitions.The first two chapters of this paper mainly summarize the relevant research results on financial risks of M&A.the basic concepts of financial risks of M&A and related theories.The third chapter is the analysis of selected cases.Firstly,this article introduces Sunac China and Wanda Cultural Travel;secondly,it describes the detailed process of the merger and acquisition;secondly,it analyzes the motivations of the merger and acquisition;finally,it summarizes the successes and shortcomings of the merger and acquisition.Chapter ? This article collects and analyzes Sunac China's operating conditions and financial activities in the three years from 2016 to 2018,and analyzes Sunac China's merger and acquisition of Wanda Culture and Tourism from four aspects:pricing,financing,payment and financial integration.The financial risks of the company are analyzed;Chapter 5 addresses the four types of financial risks in this merger and acquisition,and the corresponding management and control measures are proposed.Finally,by summarizing the case of Sunac China's merger and acquisition of Wanda Cultural Travel,this article proposes Suggestions for dealing with financial risks have drawn inspirations that can be adapted to the entire industry.