Ctrip Acquisition Qunar Financial Risk Control Research

With the continuous development and progress of China’s Internet industry in recent years,online transactions have gradually divided the existing market into more and more detailed,and some of the enterprises that entered the industry earlier are also tending to mature in their business development,in order to maintain their competitiveness in the market,with the development of market and innovation of technology,many enterprises will choose the way of M & A to expand their business scope and improve their core competitiveness.M & A also has certain risk,and risk will exist in the whole process of M & A activities.The author found that the Foreign Research on M & A risk is more mature,compared with the domestic research on this area started late,the research on the financial risk of M & A is not only lack of effective theoretical research,but also lack of practical research,and the research object is mostly the real economy enterprise.Based on this background and current research situation,this paper takes the case of CTRIP’S M & A to Qunar as a starting point,and through expounding the concept,types,control procedures and theoretical basis of financial risk in enterprise merger,this paper sums up the experience and enlightenment of Financial Risk Control in enterprise merger,strengthens the research on the evaluation of target enterprise value,the motivation of financial risk and the preventive measures of financial risk in M & A,and formulates the scientific method of enterprise value evaluation.To establish effective financial risk control means,therefore the research of this paper also has certain theoretical significance and practical value.The main content of this paper includes two parts: Introduction and text.The first part is the introduction,which includes the first chapter,mainly introduces the background and significance of the thesis,summarizes the related viewpoints from the research results of domestic and foreign scholars,and puts forward the research ideas and methods of this paper.The second part includes five chapters: The second chapter elaborates the concept,type,procedure and theoretical basis of the financial risk control of enterprise merger,in which the type and procedure of the financial risk of enterprise merger are the cut-in point of case analysis,it has certain reference value for financial risk control.The third chapter introduces the case of ctrip net merging qunar net in detail,expounds the process of case merging,analyzes the reasons of merging,and analyzes the industry and financial data after merging.It lays a good foundation for the identification and analysis of the financial risk of the case.The Fourth ChapterIdentifies The financial risk of ctrip net,analyzes the reasons of financial risk,and provides the basis for controlling the financial risk of enterprise merger.Chapter V of the case of financial risk control measures.From the enterprise financial status,specialized organizations and talents,scientific methods to assess the value of the target enterprise,control the risk of the valuation of the target enterprise.From the combination of payment structure,payment time,payment way to choose,control the payment risk.From adjusting the financial organization structure,integrating the business operations of the two sides,compatible with the corporate culture of the two sides,control the operational risks.The sixth chapter summarizes the experience of the financial risk control of CTRIP’s merger with Qunar,and proposes to make the merger strategy in line with the enterprise’s own development,and employ professionals to carry out the evaluation,reduce the risk of valuation,actively construct the Financial Organization structure after M & A and make reasonable M & A financial budget,select the appropriate payment policy recommendations.At the same time,this paper puts forward some policy suggestions on Internet industry merger,which can be used for reference in formulating merger strategy,Constructing Financial Organization framework and choosing appropriate payment methods.