Research On The Influence Of Merger And Acquisition Factors On Financial Risks Of Chinese Internet Platform Enterprises

With the booming development of Internet market and platform economy,the number of Internet platform enterprises in China is increasing.In order to realize synergies and enhance their core competitiveness,Internet platform enterprises have adopted the method of merger and acquisition to carry out extensive expansion.However,the failure of mergers and acquisitions of platform enterprises is common,and the hidden huge financial risk in the process of mergers and acquisitions is the main reason for the failure of mergers and acquisitions.It is of great significance to study the financial risks of mergers and acquisitions of Internet platform enterprises for the vigorous development of emerging Internet platform enterprises.This thesis adopts the methods of literature research and empirical research,analyzes the mechanism of financial risks of Internet platform enterprises and the influencing factors of financial risks of Internet platform enterprises from the preparation stage,implementation stage and integration stage on the basis of the existing research results and relevant theories of mergers and acquisitions.SPSS22.0 software was used for factor analysis of 12 influencing factors to find out common factors.According to the multiple regression model,the influence of five mergers and acquisitions factors on financial risk was tested.It is found that the factors influencing the financial risk of Internet platform enterprises include enterprise value evaluation factor,equity financing factor,debt financing factor,cash payment factor,profit integration factor and operation integration factor.On the whole,the financial risks of mergers and acquisitions of Internet platform enterprises in China are increasing year by year,and the risk control awareness of some platform enterprises is weak.The cash payment factor,profit integration,equity financing factor and operation integration factor have negative effects on the financial risk of Internet platform enterprises,while the debt financing factor has positive effects on the financial risk of Internet platform enterprises.Internet platform enterprises should start from the five aspects of equity financing,debt financing,cash payment,profit integration and operation integration to reduce the financial risk of mergers and acquisitions within a controllable scope.